Guideline Value for VISWANATHAPURAM MAIN ROAD

Viswanathapuram Main Road guideline value

The current guideline value of Viswanathapuram Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village under the Kodambakkam SRO, classified as Commercial Class I Type - I.

How the guideline value of Viswanathapuram Main Road has changed

The guideline value for Viswanathapuram Main Road has seen significant changes over the years. In 2003, the value was Rs 1,288 per sq.ft, which increased to Rs 2,500 per sq.ft in 2007, marking a 94% increase. By 2012, the guideline value rose to Rs 8,000 per sq.ft, reflecting a substantial 220% increase from the previous revision. The latest revision in 2024 set the value at Rs 8,800 per sq.ft, which is a 10% increase from 2012.

There are no figures available for the revisions in 2023, 2017, and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 583%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, placing Viswanathapuram Main Road's 2024 figure above this median.

• Viswanathapuram Extension: Rs 7,100 per sq.ft (2024)
• Viswanathapuram 3rd Street: Rs 7,100 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 Main Road

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Viswanathapuram Main Road?

The Sub Registrar Office that covers Viswanathapuram Main Road 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 when buying or selling property in Puliyur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the property transfer.

When registering a property, the guideline value serves as a benchmark for the transaction value, ensuring that the sale price is not undervalued. This practice helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Viswanathapuram Main Road?

The current guideline value of Viswanathapuram Main Road is Rs 8,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly, from Rs 1,288 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of 583% over this period.

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

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 area?

The Kodambakkam Sub Registrar Office covers Viswanathapuram Main Road, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

Are there other streets in Puliyur with different guideline values?

Yes, there are several other streets in Puliyur with varying guideline values. For instance, Viswanathapuram Extension, Viswanathapuram 1st, 2nd, 3rd Streets, and Virai Pallam have different rates ranging from Rs 3,300 to Rs 7,100 per sq.ft.