Guideline Value for VISWESWARAN BACK STREET

Visweswaran Back Street guideline value

The current guideline value of Visweswaran Back Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Visweswaran Back Street has changed

The guideline value for Visweswaran Back Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft. However, the value increased significantly in the 2023 revision to Rs 2,000 per sq.ft, followed by another increase to Rs 2,160 per sq.ft in the 2024 revision, marking an 8% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 8%. The most notable change occurred between the 2017 and 2023 revisions, where the value increased by 49%. It is important to note that the revisions for the years 2002, 2003, and 2007 do not have any recorded figures for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,160 per sq.ft, which is equal to the current value of Visweswaran Back Street.

• V.O.C. Street: Rs 2,200 per sq.ft (2024)
• Yamuna Street: Rs 2,160 per sq.ft (2024)
• Vigneshwara Nagar: Rs 2,200 per sq.ft (2024)
• Vempuliamman Nagar: Rs 2,200 per sq.ft (2024)
• Veerasidhi Vinayaga Koil Street: Rs 2,420 per sq.ft (2024)
• Vanchinathan Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Visweswaran Back Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, and the registration fee at 2% would be Rs 43,200. Together, the total cost for these fees would be Rs 1,94,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Visweswaran Back Street?

The Sub Registrar Office that covers Visweswaran Back Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Nemilicherry, as it determines the minimum value at which the property must be registered. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Visweswaran Back Street?

The current guideline value of Visweswaran Back Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What are the other streets in Nemilicherry with their guideline values?

Other streets in Nemilicherry include V.O.C. Street at Rs 2,200 per sq.ft, Yamuna Street at Rs 2,160 per sq.ft, Vigneshwara Nagar at Rs 2,200 per sq.ft, Vempuliamman Nagar at Rs 2,200 per sq.ft, Veerasidhi Vinayaga Koil Street at Rs 2,420 per sq.ft, and Vanchinathan Street at Rs 2,160 per sq.ft.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 21,60,000, the stamp duty would be Rs 1,51,200 and the registration fee would be Rs 43,200, totaling Rs 1,94,400.

Which office should I approach for registration in this area?

The registration for properties in Visweswaran Back Street should be done at the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.