Guideline Value for P.V.Rjamannar Salai

P.V.Rjamannar Salai guideline value

The current guideline value of P.V.Rjamannar Salai is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of P.V.Rjamannar Salai has changed

The guideline value for P.V.Rjamannar Salai has seen several revisions over the years. Starting from Rs 862 per sq.ft in 2002, it increased to Rs 955 per sq.ft in 2003. The value then rose significantly to Rs 2,650 per sq.ft in 2007, followed by a substantial increase to Rs 6,500 per sq.ft in 2012. The value saw a decrease to Rs 4,355 per sq.ft in 2017, before climbing to Rs 6,500 per sq.ft in 2023, and finally reaching Rs 7,150 per sq.ft in the 2024 revision.

Between the revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, and a significant 145% rise from 2007 to 2012. The overall increase from 2002 to 2024 is 729%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing P.V.Rjamannar Salai's 2024 figure above that median.

• Rajaji Colony (Near SBI Colony): Rs 4,400 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 6,600 per sq.ft (2024)
• Ponnambalam Road: Rs 7,150 per sq.ft (2024)
• Rajeshwari Colony (Near Arcot Road): Rs 4,950 per sq.ft (2024)
• Raji Street: Rs 2,750 per sq.ft (2024)
• RajivGandhi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.V.Rjamannar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total cost together to Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers P.V.Rjamannar Salai?

The Sub Registrar Office that covers P.V.Rjamannar Salai 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 Virugambakkam

The guideline value is a crucial factor in the registration process for property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property in this area, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of P.V.Rjamannar Salai?

The current guideline value of P.V.Rjamannar Salai is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 862 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, with significant fluctuations in between, including a peak of Rs 6,500 per sq.ft in 2023.

What are the stamp duty and registration fees for property in P.V.Rjamannar Salai?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which Sub Registrar Office is responsible for P.V.Rjamannar Salai?

The Virugambakkam Sub Registrar Office is responsible for P.V.Rjamannar Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for P.V.Rjamannar Salai?

The land classification for P.V.Rjamannar Salai is Residential Special Type - I, indicating its designated use for residential purposes.