Guideline Value for VISWANATHAN STREET

Viswanathan Street guideline value

The current guideline value of Viswanathan Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Viswanathan Street has changed

The guideline value for Viswanathan Street has undergone several revisions over the years. In the 2002 revision, the value was set at Rs 1,160 per sq.ft. This increased to Rs 1,274 per sq.ft in 2003, marking a 10% rise. The 2007 revision saw a significant jump to Rs 1,650 per sq.ft, reflecting a 30% increase. The value then rose dramatically to Rs 5,800 per sq.ft in the 2012 revision, which was a 252% increase from the previous figure. However, in 2017, the value decreased to Rs 3,886 per sq.ft, a drop of 33% from the 2012 revision.

From 2017 to 2023, the value increased to Rs 5,800 per sq.ft, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 6,300 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 443%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Viswanathan Street above this median.

• Viswanathapuram 1st Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 2nd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 3rd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram Extension: Rs 7,100 per sq.ft (2024)
• Viswanathapuram Main Road: Rs 8,800 per sq.ft (2024)
• Virai Pallam: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value would be Rs 63,00,000. The stamp duty at 7% would amount to Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, totaling Rs 5,67,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Viswanathan Street?

The Sub Registrar Office covering Viswanathan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures compliance with local regulations and helps in the accurate assessment of taxes due at the time of sale.

Frequently asked questions

What is the current guideline value of Viswanathan Street?

The current guideline value of Viswanathan Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,160 per sq.ft in 2002 to Rs 6,300 per sq.ft in 2024, reflecting an overall increase of 443% over the years.

What are the stamp duty and registration fees for property in Viswanathan Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,41,000 and the registration fee would be Rs 1,26,000, totaling Rs 5,67,000.

Which office handles property registrations for Viswanathan Street?

The Kodambakkam Sub Registrar Office handles property registrations for Viswanathan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, with Viswanathan Street's value being above this median at Rs 6,300 per sq.ft.