Guideline Value for V.V. Giri Street

V.V. Giri Street guideline value

The current guideline value of V.V. Giri Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of V.V. Giri Street has changed

The guideline value for V.V. Giri Street has undergone several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which saw a substantial increase to Rs 3,000 per sq.ft in both 2012 and 2023. However, the most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 313%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, indicating that V.V. Giri Street's 2024 figure is below this median.

• V.P. Arunachalam Street (Nesapakkam): Rs 2,200 per sq.ft (2024)
• V.P. Akilan Street: Rs 3,300 per sq.ft (2024)
• V.O.C. Street (V.O.C) (JPT): Rs 4,100 per sq.ft (2024)
• V.O.C. Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• V.O.C. Street Block 87: Rs 4,100 per sq.ft (2024)
• West Jones Road: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in V.V. Giri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.V. Giri Street?

The Sub Registrar Office that covers V.V. Giri Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Kodambakkam. It serves as the basis for calculating the stamp duty and registration fees that are payable at the time of the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers should be aware that the final costs may vary depending on the sale price and the guideline value.

Frequently asked questions

What is the current guideline value of V.V. Giri Street?

The current guideline value of V.V. Giri Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft, which is higher than the current value of V.V. Giri Street.

What are the stamp duty and registration fees for properties in V.V. Giri Street?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for V.V. Giri Street?

The Ashok Nagar Sub Registrar Office handles property registrations for V.V. Giri Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.