Guideline Value for VIRUKSHAM AVENUE

Viruksham Avenue guideline value

The current guideline value of Viruksham Avenue in Cholanthangal village, under the Madurandakam SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Viruksham Avenue has changed

The guideline value for Viruksham Avenue has seen several revisions over the years. The 2012 revision set the guideline value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in the 2017 revision, the value was reduced to Rs 402 per sq.ft. The 2023 revision brought the value back up to Rs 600 per sq.ft, and this figure has been maintained in the 2024 revision, showing no percentage change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has seen a net change of 0%.

Between the revisions, there was a notable increase of 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Cholanthangal

In Cholanthangal village, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 700 per sq.ft. The median guideline value for these streets is Rs 500 per sq.ft, placing Viruksham Avenue's 2024 figure above this median.

• Vallalar Nagar: Rs 150 per sq.ft (2024)
• Thulaci Promoters - Kamala Nagar: Rs 500 per sq.ft (2024)
• Sri Raghavendharar Avenue Phase- I: Rs 500 per sq.ft (2024)
• Sri Raghavendharar Avenue: Rs 500 per sq.ft (2024)
• யோகாலயா அவென்யூ: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Viruksham Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000. Together, the total cost for stamp duty and registration would be Rs 54,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Viruksham Avenue?

The Sub Registrar Office that covers Viruksham Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Cholanthangal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Viruksham Avenue?

The current guideline value of Viruksham Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, except for a drop to Rs 402 per sq.ft in 2017. It then returned to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification for Viruksham Avenue?

Viruksham Avenue is classified as Mixed Special Type - I.

What are the stamp duty and registration fees for a property in Viruksham Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 54,000.

Which Sub Registrar Office covers the registration of properties in Viruksham Avenue?

The Madurandakam Sub Registrar Office covers the registration of properties in Viruksham Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.