Guideline Value for V.M. Street Ward 13

V.M. Street Ward 13 guideline value

The current guideline value of V.M. Street Ward 13 in Acharapakkam village is Rs 300 per sq.ft, effective from the 2024 revision. This area falls under the Acchirapakkam SRO and is classified as Residential Class I Type - II.

How the guideline value of V.M. Street Ward 13 has changed

The guideline value for V.M. Street Ward 13 has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which remained unchanged in the 2012 revision. However, in the 2017 revision, it increased significantly to Rs 134 per sq.ft, marking a change of -33% from the previous figure. The 2023 revision maintained the value at Rs 300 per sq.ft, and the same value was carried into the 2024 revision, showing no change from 2023 to 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 50%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Acharapakkam

Acharapakkam village has a total of 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of V.M. Street Ward 13 is below this median.

• West Mada Street Ward 13: Rs 400 per sq.ft (2024)
• Yadavar Street Ward 11: Rs 400 per sq.ft (2024)
• Venkatesapuram 5th Street Ward 1: Rs 300 per sq.ft (2024)
• Venkatesapuram 4th Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 3rd Street Ward 15: Rs 300 per sq.ft (2024)
• Venkatesapuram 2rd Street Ward 15: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in V.M. Street Ward 13

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.M. Street Ward 13?

The Sub Registrar Office that covers V.M. Street Ward 13 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Acharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of V.M. Street Ward 13?

The current guideline value of V.M. Street Ward 13 is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 300 per sq.ft in 2024, marking an overall increase of 50%. There were no changes between the 2023 and 2024 revisions.

What is the land classification for V.M. Street Ward 13?

V.M. Street Ward 13 is classified as Residential Class I Type - II under the current guidelines.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in V.M. Street Ward 13 is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.M. Street Ward 13?

The Sub Registrar Office for V.M. Street Ward 13 is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.