Guideline Value for SRI VISALAKSHI STREET

Sri Visalakshi Street guideline value

The current guideline value of Sri Visalakshi Street in Vengaivasal village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Sri Visalakshi Street has changed

The guideline value for Sri Visalakshi Street has experienced several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased by 33% to Rs 1,340 per sq.ft. The following revision in 2023 saw a significant increase of 49%, bringing the value up to Rs 2,000 per sq.ft. The most recent revision in 2024 raised the value by 10% to Rs 2,200 per sq.ft.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which means that Sri Visalakshi Street's 2024 figure is below that median.

• Sri Visalakshi Nagar: Rs 3,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Visalakshi Street?

The Sub Registrar Office covering Sri Visalakshi 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 Vengaivasal

The guideline value is an essential factor in the registration process when buying or selling property in Vengaivasal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented accurately according to government regulations.

Frequently asked questions

What is the current guideline value of Sri Visalakshi Street?

The current guideline value of Sri Visalakshi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What are the other streets in Vengaivasal and their guideline values?

Other streets in Vengaivasal include Sri Visalakshi Nagar at Rs 3,300 per sq.ft, Sri Visalatchi Nagar East at Rs 3,200 per sq.ft, and St.THOMAS NAGAR at Rs 2,700 per sq.ft, among others.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is 7%, which is applied to the higher of the guideline value or the sale price of the property.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Selaiyur Sub Registrar Office at No.36, Bharathmatha Salai, East Tambaram, or by using the find your SRO tool online.