Guideline Value for VIJAYARANGAM CHETTY STREET

Vijayarangam Chetty Street guideline value

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

How the guideline value of Vijayarangam Chetty Street has changed

The guideline value for Vijayarangam Chetty Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 633 per sq.ft. This increased to Rs 729 per sq.ft in 2003, marking a change of +15%. The value continued to rise significantly, reaching Rs 1,100 per sq.ft in 2007, which was a +51% increase. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, resulting in a -33% change. However, the value rebounded to Rs 2,010 per sq.ft in 2017, reflecting a +49% increase. The 2023 revision set the guideline value at Rs 3,000 per sq.ft, and the latest 2024 revision has increased it to Rs 3,300 per sq.ft, which is a +10% change.

Overall, from 2002 to 2024, the guideline value has increased by +421%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Saidapet

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

• Vijayaragavalu 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 Vijayarangam Chetty Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Vijayarangam Chetty Street?

The Sub Registrar Office that covers Vijayarangam 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 information.

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

The guideline value serves as a benchmark for property transactions in Saidapet. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property registration. Understanding the guideline value helps in making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Vijayarangam Chetty Street?

The current guideline value of Vijayarangam 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 633 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of +421%.

What is the stamp duty rate for properties in Vijayarangam Chetty Street?

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

Where is the Sub Registrar Office for Vijayarangam Chetty Street located?

The Sub Registrar Office for Vijayarangam Chetty Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What are the other streets in Saidapet with similar guideline values?

Other streets in Saidapet with a guideline value of Rs 3,300 per sq.ft include Vijayaragavalu Chetty Street, Vinayagar Koil Street, and Venugopal Chetty Street.