Guideline Value for VIYASAR STREET

Viyasar Street guideline value

The current guideline value of Viyasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Viyasar Street has changed

The guideline value for Viyasar Street has seen significant changes over the years. In 2002, the value was Rs 122 per sq.ft, which increased to Rs 144 per sq.ft in 2003, marking an increase of 18%. The value then rose dramatically to Rs 400 per sq.ft in 2007, reflecting a substantial increase of 178%. The next revision in 2012 kept the value at Rs 1,500 per sq.ft, which remained unchanged until the 2023 revision.

The 2023 revision set the guideline value at Rs 1,500 per sq.ft, and in the subsequent 2024 revision, it increased by 10% to Rs 1,650 per sq.ft. Notably, there is no figure available for Viyasar Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,252%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which matches the guideline value of Viyasar Street.

• Vivekanandha 4th Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 3rd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 2nd Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st Cross Street/Nagar: Rs 1,110 per sq.ft (2024)
• Vivekanandha 1st Cross Street: Rs 1,110 per sq.ft (2024)
• Vivekananda Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Viyasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Viyasar Street?

The Sub Registrar Office that covers Viyasar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value will be used to determine the applicable fees, ensuring that both parties are aware of the financial obligations involved in the transaction. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Viyasar Street?

The current guideline value of Viyasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 122 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 1,252%.

What is the land classification for Viyasar Street?

Viyasar Street is classified as Residential Class IV Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 16,50,000, with stamp duty at Rs 1,15,500 and registration fees at Rs 33,000, totaling Rs 1,48,500.

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

The Sub Registrar Office for Viyasar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.