Guideline Value

Corporate

Guideline Value for VISVANATHAN 1ST STREET

₹2480/sq.ft.

The guideline value for Visvanathan 1st Street in Karambakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2480 per sq.ft, effective 1 July 2024. It was Rs 2250 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Karambakkam

Village

Chennai South Joint I

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹2480 /sq.ft.
From 1-4-2023 ₹2250 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1507 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2250 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Visvanathan 1st Street

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Visvanathan 1st Street guideline value

The current guideline value of Visvanathan 1st Street is Rs 2,480 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class II Type - I.

How the guideline value of Visvanathan 1st Street has changed

The guideline value for Visvanathan 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,250 per sq.ft, which was then reduced to Rs 1,507 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,250 per sq.ft in 2023, and further rose to Rs 2,480 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows an increase of 10%. The 2023 to 2024 revision reflects a positive change of 10%, indicating a growing value in recent times.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 1,930 per sq.ft, which means that the 2024 guideline value of Visvanathan 1st Street is above this median.

Stamp duty and registration fee for property in Visvanathan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,480 per sq.ft, the total guideline value amounts to Rs 24,80,000. The stamp duty at 7% would be Rs 1,73,600, and the registration fee at 2% would be Rs 49,600, bringing the total cost for these fees to Rs 2,23,200. 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 detailed calculations.

Which Sub Registrar Office covers Visvanathan 1st Street?

The Sub Registrar Office that covers Visvanathan 1st Street 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 Karambakkam

The guideline value is a crucial factor when registering property in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair transaction price. Buyers should be aware that the stamp duty is calculated on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Visvanathan 1st Street?

The current guideline value of Visvanathan 1st Street is Rs 2,480 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, with the most recent increase being from Rs 2,250 per sq.ft in 2023 to Rs 2,480 per sq.ft in 2024, a change of 10%.

What is the land classification for Visvanathan 1st Street?

Visvanathan 1st Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,80,000, the stamp duty would be Rs 1,73,600 and the registration fee would be Rs 49,600, totaling Rs 2,23,200.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Visvanathan 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.