Guideline Value for VISWANATHAN STREET

Viswanathan Street guideline value

The current guideline value of Viswanathan Street in Vengathur village is Rs 800 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class I Type - II.

How the guideline value of Viswanathan Street has changed

The guideline value for Viswanathan Street has undergone several revisions over the years. In the 2007 revision, the value was Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a 540% increase. However, it then decreased to Rs 536 per sq.ft in the 2017 revision, a drop of 33%. The value rose again to Rs 800 per sq.ft in the 2023 revision, and it remains unchanged at Rs 800 per sq.ft in the 2024 revision, reflecting a 49% increase from 2017.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for Viswanathan Street is below this median.

• Vivekanander Street: Rs 800 per sq.ft (2024)
• VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN): Rs 2,000 per sq.ft (2024)
• Vinayakar Koil Street (Ondikuppam): Rs 1,000 per sq.ft (2024)
• V.P.Sindhan Street: Rs 800 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)
• Velayutha Reddy Street: Rs 1,000 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 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Viswanathan Street?

The Sub Registrar Office covering Viswanathan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vengathur, the guideline value is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Ensuring compliance with the guideline value helps in smooth registration and avoids potential legal issues.

Frequently asked questions

What is the current guideline value of Viswanathan Street?

The current guideline value of Viswanathan Street is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen fluctuations, starting from Rs 125 per sq.ft in 2007, rising to Rs 800 in 2012, dropping to Rs 536 in 2017, and returning to Rs 800 in 2023 and 2024.

What is the land classification for Viswanathan Street?

Viswanathan Street is classified as Residential Class I Type - II under the guideline value register.

Where can I find the Sub Registrar Office for Viswanathan Street?

The Sub Registrar Office for Viswanathan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for properties in Viswanathan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft would incur a total stamp duty of Rs 56,000.