Guideline Value for Village Street

Village Street guideline value

The current guideline value of Village Street in Kathivakkam village is Rs 1,001 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Village Street has changed

The guideline value for Village Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft. This increased to Rs 800 per sq.ft in 2012, marking a significant rise of 167%. However, the value decreased to Rs 536 per sq.ft in 2017, reflecting a decline of 33%. Following this, the value rose sharply to Rs 1,000 per sq.ft in 2023, an increase of 87%. The most recent revision in 2024 has set the guideline value at Rs 1,001 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for Village Street. Overall, from 2007 to 2024, the guideline value has increased by 234%.

Guideline values in Kathivakkam

Kathivakkam has a total of 47 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,001 per sq.ft, which is equal to the guideline value of Village Street.

• Vinayagar Koil Street: Rs 1,001 per sq.ft (2024)
• V.O.C. Nagar All Street: Rs 1,001 per sq.ft (2024)
• Ulaganathanpuram: Rs 1,000 per sq.ft (2024)
• Thiruvalluvar Nagar / Street/Cross Streets: Rs 1,100 per sq.ft (2024)
• Thilagar Nagar /Streets: Rs 1,001 per sq.ft (2024)
• Thalanguppam Road/Street: Rs 1,001 per sq.ft (2024)

Stamp duty and registration fee for property in Village Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Village Street?

The Sub Registrar Office that covers Village Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kathivakkam

The guideline value plays a crucial role in the registration process of property transactions in Kathivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately. It helps maintain transparency in property dealings and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Village Street?

The current guideline value of Village Street in Kathivakkam is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,001 per sq.ft in 2024, reflecting an overall increase of 234% over the years.

What are the other streets in Kathivakkam with similar guideline values?

Other streets in Kathivakkam include Vinayagar Koil Street, V.O.C. Nagar All Street, and Thilagar Nagar, all with a guideline value of Rs 1,001 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Village Street?

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 and the registration fee would be Rs 20,020, totaling Rs 90,090.

Which office handles property registrations for Village Street?

The Thiruvottiyur Sub Registrar Office handles property registrations for Village Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.