Guideline Value for V.V.S.SUBRAMANIAM ENCALVE SALAI

V.V.S.Subramaniam Encalve Salai guideline value

The current guideline value of V.V.S.Subramaniam Encalve Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Uthandi village, under the Neelankarai Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of V.V.S.Subramaniam Encalve Salai has changed

The guideline value for V.V.S.Subramaniam Encalve Salai has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 3,000 per sq.ft. This was followed by a decrease in 2017 to Rs 2,010 per sq.ft, marking a decline of 33%. In 2023, the value increased to Rs 3,000 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,300 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. The guideline value for V.V.S.Subramaniam Encalve Salai is above this median.

• V.V. Salai: Rs 5,500 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.S.Subramaniam Encalve Salai

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

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

Which Sub Registrar Office covers V.V.S.Subramaniam Encalve Salai?

The V.V.S.Subramaniam Encalve Salai is covered by 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 details.

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

The guideline value is a crucial factor in property transactions in Uthandi. It serves as a benchmark for determining the stamp duty and registration fees when buying or selling property. The registration office uses this value to assess the amount of tax owed, which is calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value is essential for buyers and sellers alike, as it directly impacts the overall cost of property transactions. Ensuring that you are aware of the current guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for V.V.S.Subramaniam Encalve Salai?

The current guideline value for V.V.S.Subramaniam Encalve Salai 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017, which increased to Rs 3,000 per sq.ft in 2023, marking a 49% rise.

What is the land classification for V.V.S.Subramaniam Encalve Salai?

The land classification for V.V.S.Subramaniam Encalve Salai is Residential Class I Type - I, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is 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 Uthandi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.