Guideline Value for VIJAYARAGHAVA CHARI ROAD

Vijayaraghava Chari Road guideline value

The current guideline value of Vijayaraghava Chari Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Vijayaraghava Chari Road has changed

The guideline value for Vijayaraghava Chari Road has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 2,031 per sq.ft, which increased to Rs 2,254 per sq.ft in 2003. Following that, the value rose to Rs 4,000 per sq.ft in 2007, marking a substantial increase of 300%. The 2012 revision saw a decrease to Rs 16,000 per sq.ft, a drop of 33%. However, the value rebounded to Rs 10,720 per sq.ft in 2017, reflecting an increase of 49% from the previous revision. The most recent revision in 2023 set the guideline value at Rs 16,000 per sq.ft, before reaching the current value of Rs 17,600 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions of the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 767%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value of Vijayaraghava Chari Road is above this median.

• Vijayaraghavachari Road Ist Street: Rs 13,200 per sq.ft (2024)
• Vidyodaya Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya Ist Cross Street: Rs 11,000 per sq.ft (2024)
• Vidyodaya Colony 1st Main Road: Rs 11,000 per sq.ft (2024)
• Vidyodaya 2nd Cross Street: Rs 11,000 per sq.ft (2024)
• Vivekanandan Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghava Chari Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total fees to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayaraghava Chari Road?

The Sub Registrar Office that covers Vijayaraghava Chari Road 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 details.

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

The guideline value is a crucial factor when registering property transactions in Tnagar. It serves as a basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the authorities.

When buying or selling property, the guideline value helps in assessing the legal obligations regarding taxes and fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance during the registration process.

Frequently asked questions

What is the current guideline value of Vijayaraghava Chari Road?

The current guideline value of Vijayaraghava Chari Road is Rs 17,600 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 2,031 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, reflecting an overall increase of 767%.

What is the stamp duty rate for properties in Tnagar?

The stamp duty rate for properties in Tnagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vijayaraghava Chari Road located?

The Sub Registrar Office for Vijayaraghava Chari Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification for Vijayaraghava Chari Road?

The land classification for Vijayaraghava Chari Road is Commercial Special Type - III, which is relevant for determining the guideline value.