Guideline Value for SRI VISALAKSHI NAGAR

Sri Visalakshi Nagar guideline value

The current guideline value of Sri Visalakshi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Sri Visalakshi Nagar has changed

The guideline value for Sri Visalakshi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in 2017. After that, the value increased significantly to Rs 3,000 per sq.ft in 2023 and further rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is +10%. The jump from 2017 to 2023 was notable at +49%, while the change from 2012 to 2017 saw a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Sri Visalakshi Nagar's 2024 figure above that median.

• Sri Visalakshi Street: Rs 2,200 per sq.ft (2024)
• Sri Visalatchi Nagar East: Rs 3,200 per sq.ft (2024)
• St.THOMAS NAGAR: Rs 2,700 per sq.ft (2024)
• Sudarasana Prasad Nagar: Rs 2,350 per sq.ft (2024)
• Sri Sasthapathi Duraisamy Nagar: Rs 2,950 per sq.ft (2024)
• Sri Sastha Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Visalakshi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value totals Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would amount to Rs 66,000, bringing the total to Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Visalakshi Nagar?

Sri Visalakshi Nagar falls under 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 Vengaivasal

The guideline value is a crucial factor in property transactions in Vengaivasal, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall transaction costs. Proper understanding of these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Sri Visalakshi Nagar?

The current guideline value of Sri Visalakshi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the median guideline value in Vengaivasal?

The median guideline value in Vengaivasal is Rs 2,700 per sq.ft for the year 2024.

What are the stamp duty and registration fees for properties in Sri Visalakshi Nagar?

For a property with a guideline value of Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Sri Visalakshi Nagar?

The Selaiyur Sub Registrar Office handles property registrations for Sri Visalakshi Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.