Guideline Value for V.V. SALAI

V.V. Salai guideline value

The current guideline value of V.V. Salai is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai SRO, and is classified as Residential Special Type - I.

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

The guideline value for V.V. Salai has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017, marking a reduction of 33%. In 2023, the value increased to Rs 5,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

Between 2017 and 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. 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 carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. V.V. Salai's 2024 value of Rs 5,500 per sq.ft is above this median.

• 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)
• V V V Garden: Rs 3,900 per sq.ft (2024)
• V.R.Salai: Rs 2,800 per sq.ft (2024)
• West Gangaiamman Koil Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. 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 further assistance.

Which Sub Registrar Office covers V.V. Salai?

The Sub Registrar Office that covers V.V. 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Uthandi. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.V. Salai is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then back to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

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

V.V. Salai is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for V.V. Salai?

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

How is the stamp duty calculated for properties in V.V. Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.