Guideline Value for C.V. Raman 1st Street

C.V. Raman 1st Street guideline value

The current guideline value of C.V. Raman 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - II.

How the guideline value of C.V. Raman 1st Street has changed

The guideline value for C.V. Raman 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 4,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,680 per sq.ft. However, in the 2024 revision, the guideline value increased significantly to Rs 4,400 per sq.ft, marking a 64% increase from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are a total of 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing C.V. Raman 1st Street's 2024 figure above this median.

• C.V. Raman 2nd Street: Rs 4,400 per sq.ft (2024)
• C.V. Raman Street: Rs 4,400 per sq.ft (2024)
• Church Street: Rs 4,400 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 4,400 per sq.ft (2024)
• Chowdry Nagar 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Chowdri Nagar Main Road 3rd Cross: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in C.V. Raman 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 further calculations.

Which Sub Registrar Office covers C.V. Raman 1st Street?

The Sub Registrar Office that covers C.V. Raman 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Valasaravakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is considered to determine the minimum value for registration. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of C.V. Raman 1st Street?

The current guideline value of C.V. Raman 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,400 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

What is the land classification of C.V. Raman 1st Street?

C.V. Raman 1st Street is classified as Residential Class I Type - II, indicating its suitability for residential development.

What is the median guideline value for streets in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which is below the current guideline value of C.V. Raman 1st Street.

Where is the Sub Registrar Office for C.V. Raman 1st Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, covering C.V. Raman 1st Street.