Guideline Value for VISALATCHI NAGAR 3RD STREET

Visalatchi Nagar 3rd Street guideline value

The current guideline value of Visalatchi Nagar 3rd Street is Rs 6,610 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Visalatchi Nagar 3rd Street has changed

The guideline value for Visalatchi Nagar 3rd Street has seen significant changes over the years. In 2002, the guideline value was Rs 635 per sq.ft. This increased to Rs 732 per sq.ft in 2003, marking a 15% rise. By 2007, the value jumped dramatically to Rs 1,000 per sq.ft, reflecting a 37% increase. The value then surged to Rs 6,000 per sq.ft in 2012, which was a substantial increase of 500%. However, from 2012 to 2017, the value decreased to Rs 4,020 per sq.ft, showing a decline of 33%. The value rose again to Rs 6,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 6,610 per sq.ft, a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 635 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, which represents an overall increase of 941% over this period. There are no figures available for the revisions in years not specifically mentioned in the register.

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, with a median value of Rs 4,620 per sq.ft. The guideline value for Visalatchi Nagar 3rd Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,610 per sq.ft, the total guideline value would be Rs 66,10,000. The stamp duty at 7% would amount to Rs 4,62,700, and the registration fee at 2% would be Rs 1,32,200, bringing the total cost to Rs 5,94,900. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Visalatchi Nagar 3rd Street?

The Sub Registrar Office that covers Visalatchi Nagar 3rd 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 information.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which properties can be registered. When you buy or sell a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized value.

It is important to note that the guideline value may differ from the actual sale price of a property. In such cases, the duty is charged on the higher of the two values, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Visalatchi Nagar 3rd Street?

The current guideline value of Visalatchi Nagar 3rd 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 increased from Rs 635 per sq.ft in 2002 to Rs 6,610 per sq.ft in 2024, with various changes across the years, including a significant increase of 500% from 2007 to 2012.

What is the land classification for Visalatchi Nagar 3rd Street?

Visalatchi Nagar 3rd Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the registration office for this area?

The registration office for Visalatchi Nagar 3rd 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.

How is stamp duty calculated for properties in Ekkaduthangal?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,62,700 at 7%.