Guideline Value for Victoria Street

Victoria Street guideline value

The current guideline value of Victoria Street in Anakaputhur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office and is classified as Residential Class II Type - II.

How the guideline value of Victoria Street has changed

The guideline value for Victoria Street has undergone several revisions over the years. In 2003, the value was Rs 216 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This marked a significant rise of 62%. The value further increased to Rs 804 per sq.ft in 2017, reflecting a 130% increase from the previous revision. The 2023 revision set the value at Rs 1,200 per sq.ft, a notable jump of 49% from 2017. The most recent revision in 2024 raised the guideline value to Rs 1,320 per sq.ft, which is a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 511%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. Victoria Street's 2024 guideline value is below this median.

• Vijayalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Pandit 1st Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit 2nd Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Victoria Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Victoria Street?

The Victoria Street falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Anakaputhur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the property’s value and ensures transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Victoria Street?

The current guideline value of Victoria Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 216 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 511%.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 92,400 and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations for Victoria Street?

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

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

The guideline value is used to determine the minimum registration value for properties, ensuring that appropriate stamp duty and registration fees are collected during property transactions.