Guideline Value for VijayaVigneswar Koil Street

VijayaVigneswar Koil Street guideline value

The current guideline value of VijayaVigneswar Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of VijayaVigneswar Koil Street has changed

The guideline value for VijayaVigneswar Koil Street has seen several revisions over the years. The earliest recorded value is from 2007, which was Rs 1,000 per sq.ft. This figure increased significantly to Rs 5,500 per sq.ft in 2012, marking a 450% rise. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 5,500 per sq.ft in 2023, and most recently, it reached Rs 6,000 per sq.ft in 2024, which is a 9% increase from the previous year.

There are no recorded figures for VijayaVigneswar Koil Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Vepery

In Vepery, there are a total of 290 streets under the Periamet SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value among these streets is Rs 4,800 per sq.ft, placing VijayaVigneswar Koil Street above this median.

• VeraChetty 3rd street: Rs 4,800 per sq.ft (2024)
• VeraChetty 2nd street: Rs 4,800 per sq.ft (2024)
• Vera Chetty 1st street: Rs 4,800 per sq.ft (2024)
• Veppery HighRoad: Rs 12,100 per sq.ft (2024)
• Vepery Church road: Rs 7,700 per sq.ft (2024)
• Wall Tax Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in VijayaVigneswar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total to Rs 5,40,000. 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 further calculations.

Which Sub Registrar Office covers VijayaVigneswar Koil Street?

The Sub Registrar Office that covers VijayaVigneswar Koil Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vepery. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of VijayaVigneswar Koil Street?

The current guideline value of VijayaVigneswar Koil Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking a 500% increase overall.

What is the median guideline value for streets in Vepery?

The median guideline value for streets in Vepery is Rs 4,800 per sq.ft, with VijayaVigneswar Koil Street being above this median at Rs 6,000 per sq.ft.

What are the stamp duty and registration fees for properties in VijayaVigneswar Koil Street?

For a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 and the registration fee would be Rs 1,20,000, totaling Rs 5,40,000.

Which office handles the registration for VijayaVigneswar Koil Street?

The registration for VijayaVigneswar Koil Street is handled by the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.