Guideline Value for 21st MAIN ROAD

21st MAIN ROAD guideline value

The current guideline value of 21st MAIN ROAD in Villivakkam village is Rs 13,200 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam SRO and is classified as Residential Class I Type - I.

How the guideline value of 21st MAIN ROAD has changed

The guideline value for 21st MAIN ROAD has seen several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which then decreased to Rs 8,040 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 12,000 per sq.ft in 2023, and finally rose to Rs 13,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, positioning 21st MAIN ROAD above this median.

• 20th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 6th AVENUE: Rs 13,200 per sq.ft (2024)
• 19th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 18th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 17th MAIN ROAD: Rs 13,200 per sq.ft (2024)
• 7th AVENUE: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in 21st MAIN ROAD

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 21st MAIN ROAD?

The Sub Registrar Office that covers 21st MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is crucial when registering property transactions in Villivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of 21st MAIN ROAD?

The current guideline value of 21st 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 for streets in Villivakkam is Rs 4,900 per sq.ft, with 21st MAIN ROAD's value being above this median.

What are the stamp duty and registration fees for a property in 21st MAIN ROAD?

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000, and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which Sub Registrar Office covers 21st MAIN ROAD?

The Villivakkam Sub Registrar Office covers 21st MAIN ROAD, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.