Guideline Value for VISALATCHI NAGAR 2ND STREET

Visalatchi Nagar 2nd Street guideline value

The current guideline value of Visalatchi Nagar 2nd Street is Rs 6,610 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Visalatchi Nagar 2nd Street has changed

The guideline value for Visalatchi Nagar 2nd Street has seen several revisions over the years. In 2002, the value was Rs 635 per sq.ft, which increased to Rs 732 per sq.ft in 2003, marking a 15% rise. Following this, the value rose by 37% to Rs 1,000 per sq.ft in 2007. A significant increase of 500% occurred from 2007 to 2012, bringing the value to Rs 6,000 per sq.ft. However, this value decreased by 33% to Rs 4,020 per sq.ft in 2017. The value then increased by 49% to Rs 6,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 6,610 per sq.ft in 2024.

There are no figures available for the revisions in years other than those mentioned. The overall change from 2002 to 2024 reflects an increase of 941% in the guideline value.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 4,620 per sq.ft, placing the 2024 guideline value of Visalatchi Nagar 2nd Street above this median.

• Visalatchi Nagar 1st Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)
• Visalatchi Nagar: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar Main Road: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 3rd Cross St: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 2nd Cross St: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Visalatchi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value amounts to Rs 66,10,000. The stamp duty at 7% would be Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, totaling Rs 5,94,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Visalatchi Nagar 2nd Street?

The Sub Registrar Office that covers Visalatchi Nagar 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Ekkaduthangal. It serves as a reference point for calculating the stamp duty and registration fees that are payable at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value determined by the registration department. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Visalatchi Nagar 2nd Street?

The current guideline value of Visalatchi Nagar 2nd Street is Rs 6,610 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 635 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, reflecting an overall increase of 941% over this period.

What is the land classification for Visalatchi Nagar 2nd Street?

The land classification for Visalatchi Nagar 2nd Street is Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Visalatchi Nagar 2nd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for property in Visalatchi Nagar 2nd Street?

The stamp duty for property in Visalatchi Nagar 2nd Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.