Guideline Value for V.K.SALAI CROSS

V.K.Salai Cross guideline value

The current guideline value of V.K.Salai Cross is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village under the Neelankarai SRO, classified as Residential Class V Type - I.

How the guideline value of V.K.Salai Cross has changed

The guideline value for V.K.Salai Cross has seen several revisions over the years. The 2012 revision recorded a value of Rs 1,000 per sq.ft, which decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then to Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value rose by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for V.K.Salai Cross is below this median.

• Vivekanandar Street: Rs 2,800 per sq.ft (2024)
• V.O.C.Nagar: Rs 2,200 per sq.ft (2024)
• V.O.C Street: Rs 2,200 per sq.ft (2024)
• Vinayakar Koil Street (Pillaiyar Koil Street): Rs 2,800 per sq.ft (2024)
• Vimala Garden: Rs 3,900 per sq.ft (2024)
• V.G.P.Lay Out Part I & II & III: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in V.K.Salai Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. 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 V.K.Salai Cross?

The Sub Registrar Office that covers V.K.Salai Cross is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Enjambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When buying or selling property, the guideline value helps in determining the legal price at which the property is registered. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of V.K.Salai Cross?

The current guideline value of V.K.Salai Cross is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for V.K.Salai Cross?

V.K.Salai Cross is classified as Residential Class V Type - I.

Where can I find the Neelankarai SRO?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.