Guideline Value for VISWALINGA GARDEN 3RD STREET

Viswalinga Garden 3rd Street guideline value

The current guideline value of Viswalinga Garden 3rd 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 3rd Street has changed

The guideline value for Viswalinga Garden 3rd Street has seen significant changes over the years. In 2002, the value was Rs 959 per sq.ft, which increased to Rs 1,066 per sq.ft in 2003. The value continued to rise, reaching Rs 2,365 per sq.ft in 2007, and then saw a substantial jump to Rs 8,000 per sq.ft in 2012. However, it decreased to Rs 5,360 per sq.ft in 2017 before increasing again to Rs 8,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 8,800 per sq.ft.

From 2017 to 2023, there was a 49% increase, followed by a 10% increase from 2023 to 2024. The most notable change was between 2007 and 2012, where the value increased by 238%. 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. The median value is Rs 8,800 per sq.ft, which is equal to the current guideline value of Viswalinga Garden 3rd Street.

• Viswalinga Garden 2nd Street: Rs 8,800 per sq.ft (2024)
• Viswalinga Garden 1st 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 3rd 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, while 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 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 further calculations.

Which Sub Registrar Office covers Viswalinga Garden 3rd Street?

The Sub Registrar Office that covers Viswalinga Garden 3rd 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 plays a crucial role when buying or selling property in Mylapore. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that all transactions are fairly assessed according to the established rates set by the Registration Department.

Frequently asked questions

What is the current guideline value of Viswalinga Garden 3rd Street?

The current guideline value of Viswalinga Garden 3rd 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 changed significantly, starting from Rs 959 per sq.ft in 2002 and reaching Rs 8,800 per sq.ft in 2024, representing an overall increase of 818%.

What is the land classification of Viswalinga Garden 3rd Street?

Viswalinga Garden 3rd Street is classified as Residential Class III Type - III.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 7,92,000 based on the current guideline value.

Where is the Sub Registrar Office for Viswalinga Garden 3rd Street located?

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