Guideline Value for VISALATCHI NAGAR

Visalatchi Nagar guideline value

The current guideline value of Visalatchi Nagar, located in Ekkaduthangal village, is Rs 6,610 per sq.ft. This value is effective from 1 July 2024 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 has changed

The guideline value for Visalatchi Nagar has seen significant changes 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. The value continued to grow, reaching Rs 1,000 per sq.ft in 2007, a substantial increase of 37%. By 2012, the value was Rs 6,000 per sq.ft, reflecting a remarkable 500% increase from the previous revision. However, it then decreased to Rs 4,020 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 6,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 6,610 per sq.ft, reflecting a 10% increase from the previous year. The overall change from 2002 to 2024 indicates an increase of 941% in the guideline value for this area.

Guideline values in Ekkaduthangal

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

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

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, leading to a total of Rs 5,94,900. It is important to 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?

The Sub Registrar Office that covers Visalatchi Nagar 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 is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

During the registration process, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Visalatchi Nagar?

The current guideline value of Visalatchi Nagar 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?

Visalatchi Nagar is classified as Commercial Class I Type - II, which indicates its zoning for commercial use.

What are the stamp duty and registration fees for property in Visalatchi Nagar?

For a property valued at Rs 66,10,000, the stamp duty would be Rs 4,62,700 and the registration fee would be Rs 1,32,200, totaling Rs 5,94,900.

Which Sub Registrar Office covers Visalatchi Nagar?

The Chennai South Joint I Sub Registrar Office covers Visalatchi Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.