Guideline Value for VISHNUPRIYA AVENUE (WARD -2)

Vishnupriya Avenue (Ward -2) guideline value

The current guideline value of Vishnupriya Avenue (Ward -2) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Sattamangalam village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - IV.

How the guideline value of Vishnupriya Avenue (Ward -2) has changed

The guideline value for Vishnupriya Avenue has undergone several revisions since 2012. In 2012, the guideline value was Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,650 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, placing Vishnupriya Avenue's 2024 figure above this median.

• Vip Enclave: Rs 1,760 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 1,100 per sq.ft (2024)
• V.O.C Street (Ward -8): Rs 1,320 per sq.ft (2024)
• V.O.Sithamparanar Salai (Ward -8): Rs 1,760 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 440 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnupriya Avenue (Ward -2)

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, totaling 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishnupriya Avenue (Ward -2)?

The Sub Registrar Office covering Vishnupriya Avenue (Ward -2) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Sattamangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to assess the transaction's legitimacy. If the sale price is higher than the guideline value, the stamp duty is calculated based on the sale price. Conversely, if the sale price is lower, the duty is based on the guideline value, ensuring that the government receives the appropriate tax revenue.

Frequently asked questions

What is the current guideline value of Vishnupriya Avenue (Ward -2)?

The current guideline value of Vishnupriya Avenue (Ward -2) 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024. This reflects various increases and decreases over the years.

What is the land classification of Vishnupriya Avenue (Ward -2)?

Vishnupriya Avenue (Ward -2) is classified as Residential Special Type - IV, indicating its specific use within the residential sector.

What are the stamp duty and registration fees for a property in Vishnupriya Avenue (Ward -2)?

For a 1,000 sq.ft plot valued at Rs 1,650 per sq.ft, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration for Vishnupriya Avenue (Ward -2)?

The Chengleput Joint II Sub Registrar Office handles the registration for Vishnupriya Avenue (Ward -2), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.