Guideline Value for VILLIER COLONY (WARD -2)

Villier Colony (Ward -2) guideline value

The current guideline value for Villier Colony (Ward -2) is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class II Type - II.

How the guideline value of Villier Colony (Ward -2) has changed

The guideline value for Villier Colony has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 335 per sq.ft. However, the value rebounded significantly in the 2023 revision to Rs 500 per sq.ft, and as of the 2024 revision, it stands at Rs 550 per sq.ft. The revisions for the years 2002, 2003, and 2007 do not have figures available for this street.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has risen by 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. Villier Colony's 2024 figure is below this median.

• Villier Street Sattamangalam (Ward -15): Rs 550 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 550 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 660 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)
• Vignesh Nagar (N): Rs 661 per sq.ft (2024)
• Vignesh Garden: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Villier Colony (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that 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 Villier Colony (Ward -2)?

The Sub Registrar Office that covers Villier Colony (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Peramanoor. When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than the sale price alone.

Frequently asked questions

What is the current guideline value for Villier Colony (Ward -2)?

The current guideline value for Villier Colony (Ward -2) is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and is now Rs 550 per sq.ft in 2024.

What are the other streets in Peramanoor with their guideline values?

Other streets in Peramanoor include Villier Street Sattamangalam and Villiery Palayam, both at Rs 550 per sq.ft, Vijayanaidu Street at Rs 660 per sq.ft, and Vip Enclave at Rs 1,760 per sq.ft among others.

How is stamp duty calculated for properties in Villier Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 5,50,000 would incur a stamp duty of Rs 38,500 at 7%.

Where can I find the Sub Registrar Office for Villier Colony?

The Sub Registrar Office for Villier Colony (Ward -2) is located at Chengleput Joint II Sub Registrar Office, 10, Kancheepuram Main Road, Chengalpattu 603 002.