Guideline Value for K.A.P. VISWANATHAN STREET

K.A.P. Viswanathan Street guideline value

The current guideline value of K.A.P. Viswanathan Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and falls under the Residential Special Type - I land classification.

How the guideline value of K.A.P. Viswanathan Street has changed

The guideline value for K.A.P. Viswanathan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was a decrease of 33% from the 2017 revision, where the value was Rs 1,474 per sq.ft. The 2023 revision increased the value to Rs 2,200 per sq.ft, and the latest 2024 revision further raised it to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing K.A.P. Viswanathan Street's 2024 figure above that median.

• Karpagam Avenue: Rs 1,900 per sq.ft (2024)
• Karunanidhi Main Road: Rs 1,600 per sq.ft (2024)
• Kathavarayan Nagar: Rs 950 per sq.ft (2024)
• Kanagaraja Street: Rs 950 per sq.ft (2024)
• Kirubha Nagar: Rs 850 per sq.ft (2024)
• Kamarajapuram Main Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in K.A.P. Viswanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to Rs 2,16,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers K.A.P. Viswanathan Street?

The Sub Registrar Office that covers K.A.P. Viswanathan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees when registering a property. Buyers and sellers must be aware of this value to ensure they are compliant with the regulations set by the Registration Department.

When buying or selling property, the guideline value helps in calculating the total cost involved in the registration process. It is essential for both parties to understand how this value impacts their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of K.A.P. Viswanathan Street?

The current guideline value of K.A.P. Viswanathan Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. It was Rs 1,474 per sq.ft in 2017 and Rs 2,200 per sq.ft in 2012, showing significant fluctuations over the years.

What are the other guideline values in Chembakkam?

In Chembakkam, the guideline values for other streets vary significantly. For instance, Karpagam Avenue is valued at Rs 1,900 per sq.ft, while Kamarajapuram Main Road has a higher value of Rs 3,800 per sq.ft.

What fees are associated with buying property on K.A.P. Viswanathan Street?

When buying property, buyers should be prepared to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.