Guideline Value for VIJAYARAGAVALU CHETTY STREET

Vijayaragavalu Chetty Street guideline value

The current guideline value of Vijayaragavalu Chetty Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vijayaragavalu Chetty Street has changed

The guideline value for Vijayaragavalu Chetty Street has seen several revisions over the years. In the 2002 revision, the value was Rs 515 per sq.ft. This increased to Rs 593 per sq.ft in 2003, marking a 15% rise. The value continued to increase, reaching Rs 850 per sq.ft in 2007, which was a 43% increase from the previous year. The 2012 revision saw the value drop to Rs 3,000 per sq.ft, a decrease of 253% from 2007. The next revision in 2017 set the value at Rs 2,010 per sq.ft, reflecting a 49% increase from 2012. The 2023 revision brought the value up to Rs 3,000 per sq.ft, and finally, the 2024 revision established the current value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 541%. There are no figures available for the revisions in years other than those specified.

Guideline values in Saidapet

In Saidapet, there are 52 streets under the Chennai South Joint I SRO that have a guideline value for 2024, ranging from Rs 2,750 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vijayaragavalu Chetty Street.

• Vijayarangam Chetty Street: Rs 3,300 per sq.ft (2024)
• Vinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Visaka Garden Street: Rs 4,400 per sq.ft (2024)
• Venugopal Chetty Street: Rs 3,300 per sq.ft (2024)
• West Jones Road: Rs 8,250 per sq.ft (2024)
• West Mambalam Karunanithi Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaragavalu Chetty Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vijayaragavalu Chetty Street?

The Sub Registrar Office that covers Vijayaragavalu Chetty Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Saidapet. It is used to determine the minimum value at which property can be registered. When buying or selling property, the guideline value is essential for calculating the stamp duty and registration fees, which are mandatory expenses in the registration process.

When a property is sold, the sale price is compared with the guideline value. The higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vijayaragavalu Chetty Street?

The current guideline value of Vijayaragavalu Chetty Street 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 increased from Rs 515 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 541% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Vijayaragavalu Chetty Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Vijayaragavalu Chetty Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Vijayaragavalu Chetty Street?

The land classification for Vijayaragavalu Chetty Street is Residential Class III Type - I.