Guideline Value for V.V. Giri Street

V.V. Giri Street guideline value

The current guideline value of V.V. Giri Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

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. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, a significant increase from Rs 2,345 per sq.ft in the 2017 revision. Between 2017 and 2024, this represents a change of +64%. However, the 2012 revision recorded a higher value of Rs 3,500 per sq.ft, indicating a decrease of -33% from 2012 to 2017. Overall, the guideline value has increased by +10% from 2012 to 2024.

There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which matches the current guideline value of V.V. Giri Street.

• West Kamakodi Nagar: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Agasthiyar Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Arunagiri Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Gugan Street: Rs 4,400 per sq.ft (2024)
• West Kamakodi Nagar Main Road: Rs 4,400 per sq.ft (2024)
• West Kamakodi Nagar - Nakkirer Street: Rs 4,400 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The V.V. Giri Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For further information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Valasaravakkam. It determines 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, it is essential to be aware of the guideline value, as it can influence the overall transaction costs. Buyers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024, reflecting a +64% increase from 2017 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

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

The Virugambakkam Sub Registrar Office handles property registrations for V.V. Giri Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of V.V. Giri Street?

V.V. Giri Street is classified as Residential Class II Type - I, indicating its suitability for residential development.