Guideline Value for V.R.SAMBASIVA STREET

V.R.Sambasiva Street guideline value

The current guideline value of V.R.Sambasiva Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of V.R.Sambasiva Street has changed

The guideline value for V.R.Sambasiva Street has seen several revisions over the years. In 2002, the guideline value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, reflecting a 44% increase. By 2012, the value had surged to Rs 6,500 per sq.ft, a remarkable increase of 322% from 2007.

The latest revision in 2024 set the guideline value at Rs 7,100 per sq.ft, which is a 9% increase from the 2012 figure. It is important to note that there are no registered figures for V.R.Sambasiva Street for the years 2017 and 2023.

Guideline values in Mylapore

In Mylapore, there are a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing V.R.Sambasiva Street's 2024 figure below this median.

• West Circular Road: Rs 9,900 per sq.ft (2024)
• Viswaswarapuram: Rs 7,700 per sq.ft (2024)
• Viswanathan Street: Rs 6,000 per sq.ft (2024)
• Viswalinga Garden 3rd Street: Rs 8,800 per sq.ft (2024)
• Viswalinga Garden 2nd Street: Rs 8,800 per sq.ft (2024)
• Viswalinga Garden 1st Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in V.R.Sambasiva Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total costs together to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.R.Sambasiva Street?

The Sub Registrar Office that covers V.R.Sambasiva Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all transactions.

It is essential to be aware of the guideline value when engaging in property transactions, as it affects the overall cost and legal requirements associated with the sale or purchase of a property in the area.

Frequently asked questions

What is the current guideline value of V.R.Sambasiva Street?

The current guideline value of V.R.Sambasiva Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 959 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 640% over the years.

What is the classification of V.R.Sambasiva Street?

V.R.Sambasiva Street is classified as Residential Class IV Type - III under the Mylapore SRO.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, on a 1,000 sq.ft plot, the total fees would be Rs 6,39,000.

Which office handles registrations for V.R.Sambasiva Street?

The Mylapore Sub Registrar Office handles registrations for V.R.Sambasiva Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.