Guideline Value for VIJAYARAGHAVA CHARI IST STREET

Vijayaraghava Chari Ist Street guideline value

The current guideline value of Vijayaraghava Chari Ist Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class I Type - II.

How the guideline value of Vijayaraghava Chari Ist Street has changed

The guideline value for Vijayaraghava Chari Ist Street has undergone several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 7,000 per sq.ft in 2012, marking a significant rise of 133%. However, this value decreased to Rs 4,690 per sq.ft in 2017, a drop of 33%. The value then saw a substantial increase to Rs 7,000 per sq.ft in 2023, followed by the current rate of Rs 7,700 per sq.ft in 2024, reflecting a 10% increase.

The revisions for the years 2002 and 2003 do not have figures recorded for this street. Overall, from 2007 to 2024, the guideline value has increased by 157%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Vijayaraghava Chari Ist Street is above this median.

• Venkataraman Street: Rs 6,600 per sq.ft (2024)
• Velu Street Eastern Side Of Arya Gowda Road: Rs 7,700 per sq.ft (2024)
• 70 Feet Road C.I.T. Nagar West: Rs 15,400 per sq.ft (2024)
• Vazhai Thoppu: Rs 4,400 per sq.ft (2024)
• Vadivelpuram: Rs 6,600 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghava Chari Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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.

Which Sub Registrar Office covers Vijayaraghava Chari Ist Street?

The Sub Registrar Office that covers Vijayaraghava Chari Ist Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the state receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers must consider this value to understand the costs associated with registration, as the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vijayaraghava Chari Ist Street?

The current guideline value of Vijayaraghava Chari Ist Street is Rs 7,700 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 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 77,00,000, the total fees would amount to Rs 6,93,000.

Which Sub Registrar Office is responsible for this street?

The Thiyagaraya nagar Sub Registrar Office covers Vijayaraghava Chari Ist Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for property registration, ensuring that the state collects appropriate revenue through stamp duties and registration fees. It is essential for both buyers and sellers to consider this value during transactions.