Guideline Value for V.R.SALAI

V.R.Salai guideline value

The current guideline value of V.R.Salai is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village under the Neelankarai SRO and is classified as Residential Class I Type - II.

How the guideline value of V.R.Salai has changed

The guideline value for V.R.Salai has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then rose further to Rs 2,800 per sq.ft in the 2024 revision, marking a change of +12% from 2023 to 2024 and a substantial +49% from 2017 to 2023.

From the 2012 revision to the 2017 revision, there was a decrease of -33%. Overall, from 2012 to 2024, the guideline value has increased by +12%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that have a guideline value for 2024 ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, placing V.R.Salai's 2024 figure above this median.

• V.V. Salai: Rs 5,500 per sq.ft (2024)
• V.V.S.Subramaniam Encalve Salai: Rs 3,300 per sq.ft (2024)
• V.V.S.Subramaniam Enclave: Rs 3,300 per sq.ft (2024)
• V.V.Venkatasubramaniam Salai: Rs 2,200 per sq.ft (2024)
• West Gangaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• V V V Garden: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in V.R.Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers V.R.Salai?

The Sub Registrar Office that covers V.R.Salai 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 details.

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

The guideline value is a crucial factor when registering property transactions in Uthandi. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer or seller engages in a property transaction, the guideline value helps establish a baseline for negotiations. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of V.R.Salai?

The current guideline value of V.R.Salai is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for V.R.Salai?

V.R.Salai is classified as Residential Class I Type - II.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a plot of 1,000 sq.ft, the total fees would be Rs 2,52,000.

Where can I find the Sub Registrar Office for V.R.Salai?

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