Guideline Value for VIJAYANAIDU STREET (WARD -17)

Vijayanaidu Street (Ward -17) guideline value

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vijayanaidu Street (Ward -17) has changed

The guideline value for Vijayanaidu Street has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017, marking a decline of 33%. The value saw a significant increase to Rs 500 per sq.ft in 2023, followed by a further rise to Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The transition from 2017 to 2023 saw a substantial increase of 49%, showcasing the fluctuations in the guideline value over the years.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that Vijayanaidu Street's current figure is below this median.

• Vijayappa Naidu Street: Rs 440 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 440 per sq.ft (2024)
• Vignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayanaidu Street (Ward -17)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty is charged at 7%, resulting in Rs 38,500, while the registration fee at 2% amounts to Rs 11,000. The total cost for these fees together is Rs 49,500. 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 Vijayanaidu Street (Ward -17)?

The Sub Registrar Office that covers Vijayanaidu Street (Ward -17) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kattankollatur

The guideline value is a crucial factor during the registration process when buying or selling property in Kattankollatur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value helps in calculating the applicable taxes, which are based on the higher of the guideline value or the sale price. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vijayanaidu Street?

The current guideline value of Vijayanaidu Street (Ward -17) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Vijayanaidu Street?

The land classification for Vijayanaidu Street (Ward -17) is Residential Class II Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 5,50,000, the stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijayanaidu Street?

The Chengleput Joint II Sub Registrar Office covers Vijayanaidu Street and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO online.