Guideline Value for Vajiravelu Street

Vajiravelu Street guideline value

The current guideline value of Vajiravelu Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Vajiravelu Street has changed

Over the years, the guideline value of Vajiravelu Street has seen several revisions. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent 2024 revision has further raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Vajiravelu Street. The significant changes observed between the revisions highlight the evolving nature of property values in the area.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Vajiravelu Street's 2024 guideline value is below this median.

• Vachinathan Nagar: Rs 1,320 per sq.ft (2024)
• Vanaja Nagar: Rs 1,650 per sq.ft (2024)
• Vanaja Nagar Kuttai Medu: Rs 1,100 per sq.ft (2024)
• Udhaya Koil Street: Rs 1,100 per sq.ft (2024)
• Vanjinathan Street: Rs 1,100 per sq.ft (2024)
• T.T.K.Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vajiravelu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Vajiravelu Street?

The Sub Registrar Office that covers Vajiravelu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When registering a property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that the transaction is conducted transparently and fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of Vajiravelu Street?

The current guideline value of Vajiravelu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 670 per sq.ft to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64%.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Vajiravelu Street?

The Pammal Sub Registrar Office handles registrations for Vajiravelu Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value serves as a minimum benchmark for property registration and affects the calculation of stamp duty and registration fees. It ensures that property transactions are conducted in compliance with legal regulations.