Guideline Value for VISHAK AVENUE

Vishak Avenue guideline value

The current guideline value of Vishak Avenue in Koladi village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Vishak Avenue has changed

The guideline value for Vishak Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 250 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a remarkable 500% rise. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, and further to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 560%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Koladi

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

• Vishak Avenu 1st And 2nd Cross: Rs 1,650 per sq.ft (2024)
• Vishak Avenue Main Road: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Vishak Avenue?

The Sub Registrar Office that covers Vishak Avenue is 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. For more information, you can find your SRO.

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

The guideline value is a crucial reference point when buying or selling property in Koladi. It determines the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair price according to the local regulations.

When you approach the registration office, the guideline value will be used to calculate the stamp duty and registration fees applicable to the transaction. This ensures that all parties involved are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Vishak Avenue?

The current guideline value of Vishak Avenue 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 increased from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 560%.

What are the other streets with the same guideline value in Koladi?

Other streets in Koladi with the same guideline value of Rs 1,650 per sq.ft in 2024 include Vishak Avenu 1st And 2nd Cross, Vishak Avenue Main Road, Vigneswar Nagar, Vallikollai Medu 3rd Street, and Vallikollai Medu 2nd Street.

What is the stamp duty rate for property in Vishak Avenue?

The stamp duty rate for property transactions in Vishak Avenue is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Vishak Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.