Guideline Value for Vijayalakshmi Pandit 2nd Street

Vijayalakshmi Pandit 2nd Street guideline value

The current guideline value of Vijayalakshmi Pandit 2nd Street is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Anakaputhur village, under the Pammal SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vijayalakshmi Pandit 2nd Street has changed

The guideline value for Vijayalakshmi Pandit 2nd Street has seen significant changes over the years. The earliest recorded figure is from 2003 at Rs 202 per sq.ft. This value increased to Rs 300 per sq.ft in 2007, marking a 49% rise. By 2017, the guideline value jumped to Rs 1,072 per sq.ft, reflecting a substantial increase of 257%. The 2023 revision set the value at Rs 1,600 per sq.ft, which was a 49% increase from the previous revision. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, a 10% increase from 2023.

There are no recorded figures for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 771%.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median guideline value in this area is Rs 1,980 per sq.ft, which means that Vijayalakshmi Pandit 2nd Street's 2024 figure is below the median.

• Vijayalakshmi Pandit 1st Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Pandit Street: Rs 1,760 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayalakshmi Pandit 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations based on your specific property details.

Which Sub Registrar Office covers Vijayalakshmi Pandit 2nd Street?

The Vijayalakshmi Pandit 2nd Street falls under the jurisdiction of 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 Anakaputhur

The guideline value is a crucial factor in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the minimum value of a property, which helps in calculating the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements and to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Vijayalakshmi Pandit 2nd Street?

The current guideline value of Vijayalakshmi Pandit 2nd Street is Rs 1,760 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 202 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 771% over this period.

What is the registration office for Vijayalakshmi Pandit 2nd Street?

The registration office covering Vijayalakshmi Pandit 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Vijayalakshmi Pandit 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.

What is the land classification for Vijayalakshmi Pandit 2nd Street?

Vijayalakshmi Pandit 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.