Guideline Value for Vijayalakshmi 1st cross Street"

Vijayalakshmi 1st cross Street" guideline value

The current guideline value of Vijayalakshmi 1st cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijayalakshmi 1st cross Street" has changed

The guideline value for Vijayalakshmi 1st cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft. It is important to note that the register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The value then increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from the 2012 revision to the 2024 revision.

Guideline values in Peerklankaranai

In Peerklankaranai village, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Vijayalakshmi 1st cross Street is below this median.

• Vijayalakshmi 2st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 3st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 4st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi Street: Rs 1,100 per sq.ft (2024)
• Vimal Avenue: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi 1st cross 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, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi 1st cross Street"?

The Vijayalakshmi 1st cross Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in property transactions in Peerklankaranai. It is used as a benchmark for determining the stamp duty and registration fees when buying or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Vijayalakshmi 1st cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Vijayalakshmi 1st cross Street?

Vijayalakshmi 1st cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Tambaram Joint 1 Sub Registrar Office covers Vijayalakshmi 1st cross Street, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, while Vijayalakshmi 1st cross Street's 2024 figure is below this median.