Guideline Value for I - BLOCK

I - Block guideline value

The current guideline value for I - Block in Villivakkam village, under the Villivakkam SRO, is Rs 9,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of I - Block has changed

The guideline value for I - Block has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 1,360 per sq.ft. In 2003, it increased significantly to Rs 1,555 per sq.ft, marking a 14% rise. The 2007 revision saw a further increase to Rs 7,500 per sq.ft, which is a substantial 382% change. However, in the 2012 revision, the value adjusted to Rs 9,000 per sq.ft, reflecting a decrease of 33% from the previous figure. The 2017 revision set the value at Rs 6,030 per sq.ft, which was a 49% increase from 2012. The 2023 revision brought the value to Rs 9,000 per sq.ft, and the latest revision in 2024 has set it at Rs 9,800 per sq.ft, showing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 621%. There are no figures available for the years between these revisions for I - Block.

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 I - Block's 2024 figure above this median.

• I.C.F.ANNEX (Near M.T.H.Road): Rs 5,500 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)
• High Court (North) Colony 1st & 2nd Street: Rs 4,400 per sq.ft (2024)
• High Court Colony Main Road: Rs 4,400 per sq.ft (2024)
• High Court Colony Lane: Rs 4,400 per sq.ft (2024)
• HIGH COURT COLONY 2nd STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in I - Block

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value amounts to Rs 98,00,000. The stamp duty at 7% would be Rs 6,86,000, while the registration fee at 2% would be Rs 1,96,000. Together, the total cost for stamp duty and registration would be Rs 8,82,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers I - Block?

The I - Block area is covered by 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 information.

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

The guideline value is a crucial factor during property transactions in Villivakkam. It serves as the base value for calculating stamp duty and registration fees when a property is sold or purchased. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to determine the applicable fees. It is essential for buyers to be aware of the current guideline values to accurately assess their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value for I - Block?

The current guideline value for I - Block is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for I - Block has changed from Rs 1,360 in 2002 to Rs 9,800 in 2024, reflecting an overall increase of 621% across the years.

What is the land classification for I - Block?

The land classification for I - Block is Residential Class I Type - III.

What are the stamp duty and registration fees for I - Block?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 8,82,000, based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for I - Block located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.