Guideline Value for VILLIAR MEDU

Villiar Medu guideline value

The current guideline value of Villiar Medu, located in Perungudi village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class V Type - I land classification.

How the guideline value of Villiar Medu has changed

The guideline value for Villiar Medu has seen several revisions over the years. In 2002, the value was Rs 137 per sq.ft, which increased to Rs 155 per sq.ft in 2003. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, and then to Rs 1,000 per sq.ft in 2012. However, there was a decrease to Rs 670 per sq.ft in 2017. The value rebounded to Rs 1,000 per sq.ft in 2023 and is currently set at Rs 1,100 per sq.ft as per the 2024 revision.

The changes between the revisions indicate a notable fluctuation in the guideline value. From 2017 to 2023, there was a substantial increase of 49%. The jump from 2007 to 2012 saw a remarkable rise of 233%. Overall, from 2002 to 2024, the guideline value has increased by 703%.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Villiar Medu is below this median.

• Vinayaga Avenue: Rs 3,300 per sq.ft (2024)
• Vinayaga Estate Salai: Rs 3,300 per sq.ft (2024)
• Vijayendra Nagar: Rs 3,300 per sq.ft (2024)
• Vivekananthar Street: Rs 2,800 per sq.ft (2024)
• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Vembuliamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Villiar Medu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 details.

Which Sub Registrar Office covers Villiar Medu?

The Sub Registrar Office that covers Villiar Medu is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property for registration purposes.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that all transactions are transparent and adhere to the regulations set forth by the registration authorities.

Frequently asked questions

What is the current guideline value of Villiar Medu?

The current guideline value of Villiar Medu is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 137 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 703% over the years.

What is the land classification for Villiar Medu?

Villiar Medu is classified under Residential Class V Type - I as per the land classification standards.

Which office handles registrations for Villiar Medu?

The Neelankarai Sub Registrar Office handles registrations for Villiar Medu, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Villiar Medu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%.