Guideline Value for VILLIERY PALAYAM (WARD -15)

Villiery Palayam (Ward -15) guideline value

The current guideline value for Villiery Palayam (Ward -15) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Sattamangalam 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 Villiery Palayam (Ward -15) has changed

Over the years, the guideline value for Villiery Palayam has seen several revisions. The earliest recorded revision in 2012 set the guideline value at Rs 400 per sq.ft. This figure remained unchanged until the next revision in 2017, which decreased to Rs 268 per sq.ft, marking a 33% decline. However, the following revisions saw significant increases, with the 2023 revision rising to Rs 400 per sq.ft, and the most recent 2024 revision increasing further to Rs 440 per sq.ft, representing a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back to Rs 400 per sq.ft. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%, reflecting the fluctuations in the guideline value over the years. Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Villiery Palayam (Ward -15) is below this median.

• Villier Street Sattamangalam (Ward -15): Rs 660 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 550 per sq.ft (2024)
• Vip Enclave: Rs 1,760 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)
• Vishnupriya Avenue (Ward -2): 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, while the registration fee at 2% would be Rs 8,800, leading to a total cost of Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

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 Sattamangalam

The guideline value plays a crucial role when buying or selling property in Sattamangalam. It serves as a benchmark for the minimum price at which a property can be registered, ensuring that the transaction is documented at a fair value according to the government standards.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of these values to ensure compliance with local regulations 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 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 400 per sq.ft in 2023 to Rs 440 per sq.ft in 2024. Notably, it was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What is the land classification for Villiery Palayam (Ward -15)?

Villiery Palayam (Ward -15) is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II SRO is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Villiery Palayam (Ward -15)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft would incur a stamp duty of Rs 30,800.