Guideline Value for VIJAY RAJA KURUNCHI

Vijay Raja Kurunchi guideline value

The current guideline value of Vijay Raja Kurunchi is Rs 102 per sq.ft, effective from 1 July 2024. This street is located in Edamichi village, under the Salavakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Vijay Raja Kurunchi has changed

The guideline value for Vijay Raja Kurunchi has undergone several revisions over the years. The earliest recorded figure is from 2012, when the guideline value was Rs 60 per sq.ft. This was followed by a decrease to Rs 40 per sq.ft in 2017, and then a significant increase to Rs 100 per sq.ft in 2023. The most recent revision in 2024 saw a further increase to Rs 102 per sq.ft, marking a 2% rise from the previous year.

Between 2012 and 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 150%. Overall, from 2012 to 2024, the guideline value has increased by 70%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Edamichi

In Edamichi village, there are four streets under the Salavakkam SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 102 per sq.ft. The median guideline value for these streets is Rs 102 per sq.ft, which is equal to the guideline value for Vijay Raja Kurunchi.

• Star Garden Phase-I: Rs 101 per sq.ft (2024)
• Nathakollai Street: Rs 100 per sq.ft (2024)
• Mano Mount City: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Raja Kurunchi

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 1,02,000. The stamp duty is charged at 7%, which totals Rs 7,140, and the registration fee is 2%, amounting to Rs 2,040. Together, the total cost for stamp duty and registration fee would be Rs 9,180. 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 Vijay Raja Kurunchi?

The Sub Registrar Office that covers Vijay Raja Kurunchi is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Edamichi, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps maintain transparency in property transactions, providing a reference point for buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijay Raja Kurunchi?

The current guideline value of Vijay Raja Kurunchi is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 60 per sq.ft in 2012 to Rs 102 per sq.ft in 2024, reflecting an overall increase of 70% over this period.

What are the guideline values of other streets in Edamichi?

In Edamichi, other streets include Star Garden Phase-I at Rs 101 per sq.ft, Nathakollai Street at Rs 100 per sq.ft, and Mano Mount City at Rs 102 per sq.ft for 2024.

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, the total cost for a 1,000 sq.ft plot at the current rate would be Rs 9,180.

Where is the Sub Registrar Office for Vijay Raja Kurunchi located?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.