Guideline Value for V.V.Giri Street

V.V.Giri Street guideline value

The current guideline value of V.V.Giri Street in Pozhichalur village, under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

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

The guideline value for V.V.Giri Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, indicating a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for V.V.Giri Street. This means that the last recorded figures before 2017 were not documented in the register.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is the same as the current value for V.V.Giri Street.

• VOC Street (6): Rs 1,100 per sq.ft (2024)
• VOC Street (12): Rs 1,100 per sq.ft (2024)
• Vivekanthar Street: Rs 1,100 per sq.ft (2024)
• Zhakirhussain Street: Rs 1,320 per sq.ft (2024)
• Vishnu Street: Rs 1,100 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,650 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total costs together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

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

The Sub Registrar Office that covers V.V.Giri Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pozhichalur. It serves as a baseline for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, providing transparency and consistency in property dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations 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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 64% over this period.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,20,000. The stamp duty is Rs 92,400, and the registration fee is Rs 26,400, totaling Rs 1,18,800.

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

The Pammal Sub Registrar Office handles registrations for V.V.Giri Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

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