Guideline Value for P.V.Vithiyalingam Road

P.V.Vithiyalingam Road guideline value

The current guideline value of P.V.Vithiyalingam Road is Rs 3,520 per sq.ft, effective from 1 July 2024. This road is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of P.V.Vithiyalingam Road has changed

The guideline value for P.V.Vithiyalingam Road has seen several revisions over the years. In 2003, the value was Rs 154 per sq.ft, which increased significantly to Rs 1,050 per sq.ft in 2007. The value then rose to Rs 3,200 per sq.ft in 2012, but dropped to Rs 2,144 per sq.ft in 2017. The 2023 revision brought it back up to Rs 3,200 per sq.ft, and the latest revision in 2024 set it at Rs 3,520 per sq.ft. The register has no figure for this street for the year 2002.

Between the revisions, notable changes include a massive increase of 582% from 2003 to 2007, followed by a 205% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a 10% rise from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 2186%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing P.V.Vithiyalingam Road's 2024 figure above this median.

• P.V. Atchari Street: Rs 3,300 per sq.ft (2024)
• Radhabai Ammal (Layout): Rs 2,160 per sq.ft (2024)
• Radhabaiammal Nagar 1st Street: Rs 2,160 per sq.ft (2024)
• Radhabaiammal Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Radha Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Radhapuram Ammal Layout: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in P.V.Vithiyalingam Road

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the 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 more details.

Which Sub Registrar Office covers P.V.Vithiyalingam Road?

P.V.Vithiyalingam Road is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value is a critical factor in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher, making it essential to consider these values during negotiations.

Frequently asked questions

What is the current guideline value of P.V.Vithiyalingam Road?

The current guideline value of P.V.Vithiyalingam Road is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 154 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 2186% over the years.

What is the land classification for P.V.Vithiyalingam Road?

P.V.Vithiyalingam Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for P.V.Vithiyalingam Road?

The registration office for P.V.Vithiyalingam Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Zaminpallavaram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property with a guideline value of Rs 35,20,000, the stamp duty would be Rs 2,46,400 at 7%.