Guideline Value for V.O.Saminathan Street

V.O.Saminathan Street guideline value

The current guideline value of V.O.Saminathan Street in Periyakuppam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of V.O.Saminathan Street has changed

The guideline value for V.O.Saminathan Street has undergone several revisions since 2007. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, it decreased to Rs 670 per sq.ft, a reduction of 33%. The value then rose to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The revisions show a fluctuation in values, with the most significant increase occurring between 2007 and 2012, followed by a steady rise leading to the current figure.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,300 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is equal to the current value of V.O.Saminathan Street.

• V.M. Nagar: Rs 1,650 per sq.ft (2024)
• Vivekanatha Salai: Rs 1,320 per sq.ft (2024)
• 1'st Cross Street: Rs 550 per sq.ft (2024)
• 2'nd Cross Street: Rs 550 per sq.ft (2024)
• V.G.P./ Nagar: Rs 1,650 per sq.ft (2024)
• Varadha Rajapuram & Varadha Raja Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.O.Saminathan Street

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 amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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.O.Saminathan Street?

The Sub Registrar Office that covers V.O.Saminathan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Periyakuppam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees payable during the transaction.

When buying or selling property, it is essential to be aware of the guideline value to ensure compliance with local regulations. The registration process will require payment of fees based on this value, making it a significant aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of V.O.Saminathan Street?

The current guideline value of V.O.Saminathan Street 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 several times, starting from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 450% since 2007.

What is the land classification for V.O.Saminathan Street?

V.O.Saminathan Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for V.O.Saminathan Street?

The Sub Registrar Office for V.O.Saminathan Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

How is the stamp duty calculated for properties in V.O.Saminathan Street?

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