Guideline Value for VISWALINGA GARDEN 1ST STREET

Viswalinga Garden 1st Street guideline value

The current guideline value of Viswalinga Garden 1st Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - III.

How the guideline value of Viswalinga Garden 1st Street has changed

The guideline value for Viswalinga Garden 1st Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,950 per sq.ft. This figure saw a significant increase in 2012, where it was revised to Rs 8,000 per sq.ft, marking a rise of 310%. The most recent revision in 2024 brought the guideline value to Rs 8,800 per sq.ft, reflecting a 10% increase from the 2012 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 351%.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which is the same as the 2024 figure for Viswalinga Garden 1st Street.

• Viswalinga Garden 2nd Street: Rs 8,800 per sq.ft (2024)
• Viswalinga Garden 3rd Street: Rs 8,800 per sq.ft (2024)
• Viswanathan Street: Rs 6,000 per sq.ft (2024)
• Viswaswarapuram: Rs 7,700 per sq.ft (2024)
• Visalakshi Thottam: Rs 7,100 per sq.ft (2024)
• Virupakshavarar Koil Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Viswalinga Garden 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, making the total charges Rs 7,92,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Viswalinga Garden 1st Street?

The Sub Registrar Office that covers Viswalinga Garden 1st Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Viswalinga Garden 1st Street?

The current guideline value of Viswalinga Garden 1st Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,950 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 351% over the years.

What is the land classification for Viswalinga Garden 1st Street?

Viswalinga Garden 1st Street is classified as Residential Class III Type - III.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Viswalinga Garden 1st Street is set at 7% of the guideline value or sale price, whichever is higher.

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

The Mylapore Sub Registrar Office covers Viswalinga Garden 1st Street and is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.