Guideline Value for VISHAK AVENUE MAIN ROAD

Vishak Avenue Main Road guideline value

The current guideline value of Vishak Avenue Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Koladi village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vishak Avenue Main Road has changed

Starting from the 2012 revision, the guideline value for Vishak Avenue Main Road was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, marking a 49% increase from the 2017 figure. The most recent revision in 2024 saw another increase to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

The revisions for the years 2002, 2003, and 2007 do not have any recorded figures for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Koladi

In Koladi, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Vishak Avenue Main Road is above this median.

• Vishak Avenue: Rs 1,650 per sq.ft (2024)
• Vishak Avenu 1st And 2nd Cross: Rs 1,650 per sq.ft (2024)
• Vigneswar Nagar: Rs 1,650 per sq.ft (2024)
• V.G.S. Nagar: Rs 660 per sq.ft (2024)
• Vallikollai Medu 3rd Street: Rs 1,650 per sq.ft (2024)
• Vallikollai Medu 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vishak Avenue Main Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vishak Avenue Main Road?

The Vishak Avenue Main Road is covered by the Chennai South Joint II 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 Koladi

The guideline value plays a crucial role during the registration of property transactions in Koladi. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a reference point for the transaction price. Buyers and sellers must be aware of this value, as it influences the overall cost of the transaction, including the fees associated with registration.

Frequently asked questions

What is the current guideline value of Vishak Avenue Main Road?

The current guideline value of Vishak Avenue Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed as follows: Rs 1,500 per sq.ft in 2012, Rs 1,005 per sq.ft in 2017, Rs 1,500 per sq.ft in 2023, and Rs 1,650 per sq.ft in 2024.

What is the land classification for Vishak Avenue Main Road?

The land classification for Vishak Avenue Main Road is Residential Class I Type - II.

Where can I find the Sub Registrar Office for Vishak Avenue Main Road?

The Sub Registrar Office for Vishak Avenue Main Road 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 Vishak Avenue Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000, leading to a stamp duty of Rs 1,15,500.