Guideline Value for VILLIERY PALAYAM (WARD -15)

Villiery Palayam (Ward -15) guideline value

The current guideline value of Villiery Palayam (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Villiery Palayam (Ward -15) has changed

The guideline value for Villiery Palayam has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 600 per sq.ft in 2023 and further rose to Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Villiery Palayam's 2024 figure below this median.

• Villier Street Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 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 660 per sq.ft (2024)
• Vishnupriya Avenue Phase -I: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Villiery Palayam (Ward -15)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, together amounting to Rs 59,400. 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 Villiery Palayam (Ward -15)?

The Sub Registrar Office that covers Villiery Palayam (Ward -15) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Ninna Karai, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When registering a property, the guideline value is used to calculate stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. It is essential for buyers to be aware of these values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Villiery Palayam (Ward -15)?

The current guideline value of Villiery Palayam (Ward -15) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Villiery Palayam?

Villlery Palayam is classified as Residential Class I Type - III, indicating its suitability for residential developments.

What are the stamp duty and registration fees for properties in Villiery Palayam?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles registrations for Villiery Palayam?

The Chengleput Joint II Sub Registrar Office handles registrations for Villiery Palayam, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.