Guideline Value for MAHA VISHNU SALAI

Maha Vishnu Salai guideline value

The current guideline value of Maha Vishnu Salai is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - I.

How the guideline value of Maha Vishnu Salai has changed

Over the years, the guideline value of Maha Vishnu Salai has seen significant changes. The 2007 revision set the value at Rs 900 per sq.ft, which increased dramatically to Rs 2,800 per sq.ft in 2012, marking a rise of 211%. However, from 2012 to 2017, the value decreased to Rs 1,876 per sq.ft, a drop of 33%. The value then rose again to Rs 2,800 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has brought the guideline value to Rs 3,100 per sq.ft, an increase of 11% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 244%.

Guideline values in Ramapuram

In Ramapuram, the guideline values for 394 streets under the Chennai South Joint II SRO range from Rs 1,950 to Rs 6,600 per sq.ft, with the median value being Rs 3,100 per sq.ft. The guideline value of Maha Vishnu Salai is equal to this median.

• Mahavishnu Street: Rs 3,100 per sq.ft (2024)
• Mahaver Garden: Rs 3,550 per sq.ft (2024)
• Maharaja Garden: Rs 3,550 per sq.ft (2024)
• M.A.Koil 3rd Street: Rs 1,950 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 3,100 per sq.ft (2024)
• Mahalakshmi Nagar Annexe: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Vishnu Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, making the total charges Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maha Vishnu Salai?

The Sub Registrar Office that covers Maha Vishnu Salai is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for further assistance.

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

The guideline value plays a crucial role when buying or selling property in Ramapuram. It is the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Maha Vishnu Salai?

The current guideline value of Maha Vishnu Salai is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 900 per sq.ft in 2007 to Rs 3,100 per sq.ft in 2024, which is an overall increase of 244%.

What are the other streets in Ramapuram with their guideline values?

Other streets in Ramapuram include Mahavishnu Street and Mahalakshmi Nagar Main Road, both at Rs 3,100 per sq.ft, as well as Mahaver Garden and Maharaja Garden at Rs 3,550 per sq.ft.

What is the stamp duty for property in Maha Vishnu Salai?

The stamp duty for property in Maha Vishnu Salai is 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 2,17,000.

Where can I find the Sub Registrar Office for Maha Vishnu Salai?

The Sub Registrar Office for Maha Vishnu Salai is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.