Guideline Value for VISWANATHAPURAM EXTENSION

Viswanathapuram Extension guideline value

The current guideline value of Viswanathapuram Extension in Puliyur village is Rs 7,100 per sq.ft, effective from 1 July 2024. This area falls under the Kodambakkam SRO and is classified as Residential Special Type - II.

How the guideline value of Viswanathapuram Extension has changed

Over the years, the guideline value for Viswanathapuram Extension has seen significant changes. The 2003 revision recorded a value of Rs 1,288 per sq.ft, which increased to Rs 1,650 per sq.ft in 2007, marking a rise of 28%. Following this, the value surged dramatically to Rs 6,500 per sq.ft in 2012, reflecting a substantial increase of 294%. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 6,500 per sq.ft in 2023, followed by a current value of Rs 7,100 per sq.ft in 2024, which is a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2003 to 2024, the guideline value has increased by 451%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, with rates ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing Viswanathapuram Extension's 2024 figure above this median.

• Viswanathapuram 3rd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram Main Road: Rs 8,800 per sq.ft (2024)
• Viswanathapuram 2nd Street: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 1st Street: Rs 7,100 per sq.ft (2024)
• Viswanathan Street: Rs 6,300 per sq.ft (2024)
• Virai Pallam: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathapuram Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total fees to Rs 6,39,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Viswanathapuram Extension?

The Sub Registrar Office that covers Viswanathapuram Extension is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Puliyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. This value serves as a benchmark for property transactions and is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Viswanathapuram Extension?

The current guideline value of Viswanathapuram Extension is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,288 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024. Notable changes include a rise of 294% from 2007 to 2012 and a 49% increase from 2017 to 2023.

What are the stamp duty and registration fees for property in Viswanathapuram Extension?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles property registration in Viswanathapuram Extension?

The Kodambakkam Sub Registrar Office handles property registration in Viswanathapuram Extension, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the applicable stamp duty and registration fees during property transactions. It ensures compliance with local regulations and serves as a benchmark for property values in the area.