Guideline Value for V.O.SITHAMPARANAR SALAI (WARD -8)

V.O.Sithamparanar Salai (Ward -8) guideline value

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Special Type - III.

How the guideline value of V.O.Sithamparanar Salai (Ward -8) has changed

The guideline value for V.O.Sithamparanar Salai has undergone several revisions over the years. In 2012, the value was Rs 1,600 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. The value increased significantly to Rs 1,600 per sq.ft in 2023, followed by a further increase to Rs 1,760 per sq.ft in 2024.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing V.O.Sithamparanar Salai's 2024 figure above this median.

• V.O.C Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Yadavar Street (Ward -19): Rs 660 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 1,100 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Vishnupriya Avenue Phase -III: Rs 1,650 per sq.ft (2024)
• Vishnupriya Avenue Phase -II: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.Sithamparanar Salai (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty, charged at 7%, would be Rs 1,23,200, while the registration fee at 2% would be Rs 35,200, resulting in a total of Rs 1,58,400. 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 further calculations.

Which Sub Registrar Office covers V.O.Sithamparanar Salai (Ward -8)?

The Chengleput Joint II Sub Registrar Office covers V.O.Sithamparanar Salai (Ward -8). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of V.O.Sithamparanar Salai (Ward -8)?

The current guideline value of V.O.Sithamparanar Salai (Ward -8) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for V.O.Sithamparanar Salai?

The land classification for V.O.Sithamparanar Salai (Ward -8) is Residential Special Type - III.

What are the stamp duty and registration fees for property in V.O.Sithamparanar Salai?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.