Guideline Value for Vijayalakshmi Pandit 1st Street

Vijayalakshmi Pandit 1st Street guideline value

The current guideline value of Vijayalakshmi Pandit 1st 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 1st Street has changed

The guideline value for Vijayalakshmi Pandit 1st Street has seen significant changes over the years. In 2003, the value was Rs 202 per sq.ft, which increased to Rs 300 per sq.ft in 2007. This marked a 49% rise. The value then surged to Rs 1,072 per sq.ft in 2017, reflecting a remarkable increase of 257%. The 2023 revision saw the value rise to Rs 1,600 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 1,760 per sq.ft, which is a 10% increase from 2023.

It is important to note that 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 with a 2024 guideline value range from Rs 1,320 to Rs 4,640 per sq.ft. The median value is Rs 1,980 per sq.ft, making the guideline value of Vijayalakshmi Pandit 1st Street below this median.

• Vijayalakshmi Pandit 2nd 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 1st 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, leading to a total of 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayalakshmi Pandit 1st Street?

The Vijayalakshmi Pandit 1st 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 an essential factor in property transactions in Anakaputhur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

During the registration process, buyers and sellers must adhere to the guideline value to ensure compliance with local regulations. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

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

The current guideline value of Vijayalakshmi Pandit 1st Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 202 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, which is a total increase of 771% over the years.

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

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

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated on properties in Anakaputhur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,60,000, the stamp duty would be 7% of this amount.