Guideline Value for VISWALINGA GARDEN 2ND STREET

Viswalinga Garden 2nd Street guideline value

The current guideline value of Viswalinga Garden 2nd 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 2nd Street has changed

The guideline value for Viswalinga Garden 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,540 per sq.ft in 2007, an increase of +44%. Following this, the value surged to Rs 8,000 per sq.ft in 2012, reflecting a remarkable increase of +419%. However, the value decreased to Rs 5,360 per sq.ft in 2017, a drop of -33%. The next revision in 2023 saw the value rise to Rs 8,000 per sq.ft, and finally, the current value as of 2024 is Rs 8,800 per sq.ft, which is an increase of +10% from the previous year.

It is noteworthy that there are no figures available for the years not mentioned in the revisions for this street. Overall, from 2002 to 2024, the guideline value has increased by +818%.

Guideline values in Mylapore

In Mylapore, 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, with the median value being Rs 8,800 per sq.ft. The guideline value for Viswalinga Garden 2nd Street aligns with this median.

• Viswalinga Garden 1st 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 2nd 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, bringing the total to Rs 7,92,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Viswalinga Garden 2nd Street?

The Sub Registrar Office that covers Viswalinga Garden 2nd 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 details.

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

The guideline value is a critical factor in property transactions in Mylapore, as it determines the amount of stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the property transfer process.

When a property is sold, the guideline value serves as a benchmark for calculating taxes and fees associated with the transaction. It is essential to refer to the latest guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Viswalinga Garden 2nd Street?

The current guideline value of Viswalinga Garden 2nd 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 959 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of +818% over the years.

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

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000, and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers this street?

The Mylapore Sub Registrar Office covers Viswalinga Garden 2nd Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Viswalinga Garden 2nd Street?

Viswalinga Garden 2nd Street is classified as Residential Class III Type - III.