Guideline Value for Viduthalai Nagar

Viduthalai Nagar guideline value

The current guideline value of Viduthalai Nagar, located in Kovilambakkam village under the Pallavaram SRO, is Rs 4,070 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Viduthalai Nagar has changed

The guideline value for Viduthalai Nagar has undergone several revisions over the years. In 2002, the value was Rs 371 per sq.ft, which increased to Rs 371 per sq.ft in 2003, showing no change. The 2007 revision saw a significant increase to Rs 800 per sq.ft, followed by a remarkable rise to Rs 3,700 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,479 per sq.ft in 2017. The value then increased to Rs 3,700 per sq.ft in 2023, and currently stands at Rs 4,070 per sq.ft from the 2024 revision.

Between these revisions, the changes were as follows: from 2002 to 2003, there was no change; from 2003 to 2007, the value increased by 116%; from 2007 to 2012, it rose by 363%; from 2012 to 2017, it decreased by 33%; and from 2017 to 2023, it increased by 49%. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2002 to 2024, the guideline value has increased by 997%.

Guideline values in Kovilambakkam

Kovilambakkam village has 61 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Viduthalai Nagar is above this median.

• 200 Feet Road: Rs 4,400 per sq.ft (2024)
• Vadakku Pattu Road: Rs 2,200 per sq.ft (2024)
• Tranquil Acres: Rs 4,070 per sq.ft (2024)
• Thiruvin Nagar: Rs 4,070 per sq.ft (2024)
• Thiruvenkandam Nagar: Rs 2,160 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Viduthalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,070 per sq.ft, the total guideline value amounts to Rs 40,70,000. The stamp duty at 7% would be Rs 2,84,900, while the registration fee at 2% would be Rs 81,400, bringing the total cost to Rs 3,66,300. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Viduthalai Nagar?

Viduthalai Nagar falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kovilambakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the financial obligations involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Viduthalai Nagar?

The current guideline value of Viduthalai Nagar is Rs 4,070 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 371 per sq.ft in 2002 to Rs 4,070 per sq.ft in 2024, reflecting an overall increase of 997% over the years.

What is the land classification for Viduthalai Nagar?

Viduthalai Nagar is classified as Mixed Type - I, which indicates the type of land use permitted in the area.

What are the stamp duty and registration fees for property transactions?

For a property valued at the current guideline value, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Viduthalai Nagar?

The Pallavaram Sub Registrar Office covers Viduthalai Nagar and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.