Guideline Value for VISVANATHAN 3RD CROSS STREET

Visvanathan 3rd Cross Street guideline value

The current guideline value of Visvanathan 3rd Cross Street is Rs 2,480 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Visvanathan 3rd Cross Street has changed

The guideline value for Visvanathan 3rd Cross Street has experienced several revisions over the years. The 2012 revision set the value at Rs 2,250 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,507 per sq.ft. The 2023 revision increased the value to Rs 2,250 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,480 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 1,930 per sq.ft. The guideline value of Visvanathan 3rd Cross Street is above this median.

• Visvanathan 2nd Cross Street: Rs 2,480 per sq.ft (2024)
• Visvanathan 4th Cross Street: Rs 2,480 per sq.ft (2024)
• Visvanathan 1st Street: Rs 2,480 per sq.ft (2024)
• Visvanathan Main Cross Road: Rs 2,480 per sq.ft (2024)
• Visvanathan 1st Cross Street: Rs 2,480 per sq.ft (2024)
• Visvanathan Main Road: Rs 2,480 per sq.ft (2024)

Stamp duty and registration fee for property in Visvanathan 3rd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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 to Rs 2,23,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Visvanathan 3rd Cross Street?

The Sub Registrar Office that covers Visvanathan 3rd Cross 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, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is essential during property registration as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations during a transaction.

When buying or selling property in Karambakkam, it is crucial to be aware of the guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark for assessing the property's worth and ensuring that all fees are accurately calculated.

Frequently asked questions

What is the current guideline value of Visvanathan 3rd Cross Street?

The current guideline value of Visvanathan 3rd Cross 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 changed from Rs 2,250 per sq.ft in 2023 to Rs 2,480 per sq.ft in 2024, a 10% increase. It was Rs 1,507 per sq.ft in 2017 and Rs 2,250 per sq.ft in 2012, showing a significant rise over the years.

What is the land classification for Visvanathan 3rd Cross Street?

The land classification for Visvanathan 3rd Cross Street is Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Visvanathan 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

How is stamp duty calculated for properties in Karambakkam?

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 the current guideline value, the total stamp duty and registration fees can be calculated accordingly.