Guideline Value for SRI VISALATCHI NAGAR EAST

Sri Visalatchi Nagar East guideline value

The current guideline value of Sri Visalatchi Nagar East is Rs 3,200 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Residential Class III Type - IV.

How the guideline value of Sri Visalatchi Nagar East has changed

The guideline value for Sri Visalatchi Nagar East has undergone several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft. This increased significantly to Rs 3,005 per sq.ft in the 2023 revision, marking a 50% rise. The most recent revision in 2024 raised the guideline value further to Rs 3,200 per sq.ft, reflecting a 6% increase from the previous year. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 59%. This upward trend highlights the changes in property valuation over the years.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets listed under the Selaiyur SRO that carry a guideline value for 2024, 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, placing Sri Visalatchi Nagar East above this median.

• Sri Visalakshi Street: Rs 2,200 per sq.ft (2024)
• Sri Visalakshi Nagar: Rs 3,300 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 Visalatchi Nagar East

For a 1,000 sq.ft plot at the current guideline value of Rs 3,200 per sq.ft, the total guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, bringing the total fees to Rs 2,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Visalatchi Nagar East?

The Sub Registrar Office that covers Sri Visalatchi Nagar East 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. To find more information, you can find your SRO.

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

The guideline value serves as a benchmark for property transactions in Vengaivasal. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must be aware that the guideline value is crucial for the legal documentation and registration of property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Visalatchi Nagar East?

The current guideline value of Sri Visalatchi Nagar East is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2024, reflecting an overall increase of 59% over this period.

What are the stamp duty and registration fees in Sri Visalatchi Nagar East?

For a property valued at Rs 32,00,000, the stamp duty would be Rs 2,24,000 and the registration fee would be Rs 64,000, totaling Rs 2,88,000.

Which Sub Registrar Office covers Sri Visalatchi Nagar East?

The Selaiyur Sub Registrar Office covers Sri Visalatchi Nagar East, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Sri Visalatchi Nagar East?

Sri Visalatchi Nagar East is classified as Residential Class III Type - IV, indicating its suitability for residential purposes.