Guideline Value for VISALATCHI STREET

Visalatchi Street guideline value

The current guideline value of Visalatchi Street in Arasankalani village is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Visalatchi Street has changed

The guideline value for Visalatchi Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. However, the value increased significantly in the following revisions, reaching Rs 1,200 per sq.ft in 2023 and then rising to Rs 1,300 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. Notably, the register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 1,300 to Rs 4,750 per sq.ft, with a median value of Rs 2,100 per sq.ft. The guideline value of Visalatchi Street is below this median.

• Vedanthangal Nagar: Rs 1,900 per sq.ft (2024)
• Vedanthagal Street: Rs 1,900 per sq.ft (2024)
• Vasanthapuram Extentsion: Rs 2,100 per sq.ft (2024)
• Vasanthapuram: Rs 2,100 per sq.ft (2024)
• Vaibhavs Thullia: Rs 2,190 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Visalatchi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, resulting in a total of Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Visalatchi Street?

The Sub Registrar Office that covers Visalatchi Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a crucial factor during the registration of property transactions in Arasankalani. It determines the minimum value at which a property can be registered and serves as a basis for calculating stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Visalatchi Street?

The current guideline value of Visalatchi Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Visalatchi Street?

Visalatchi Street is classified as Residential Class III Type - I.

What is the stamp duty rate for properties in Visalatchi Street?

The stamp duty rate for properties in Visalatchi Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Visalatchi Street located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.