Guideline Value for 13th MAIN ROAD

13th MAIN ROAD guideline value

The current guideline value of 13th MAIN ROAD is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of 13th MAIN ROAD has changed

The guideline value for 13th MAIN ROAD has undergone several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which was then reduced to Rs 8,040 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 12,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 13,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The transition from 2023 to 2024 saw a further increase of 10%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing 13th MAIN ROAD above this median.

• 17th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 18th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 19th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 20th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 21st MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 6th AVENUE: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in 13th MAIN ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty, charged at 7%, would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers 13th MAIN ROAD?

The Sub Registrar Office that covers 13th MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable taxes, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of 13th MAIN ROAD?

The current guideline value of 13th MAIN ROAD is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then increased to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, with 13th MAIN ROAD's value being above this median.

What are the stamp duty rates applicable for property in 13th MAIN ROAD?

The stamp duty rate for property transactions in 13th MAIN ROAD is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for 13th MAIN ROAD?

The Sub Registrar Office for 13th MAIN ROAD is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.