Guideline Value for Vijayaraghava Chetty Street (JPT)

Vijayaraghava Chetty Street (JPT) guideline value

The current guideline value of Vijayaraghava Chetty Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Vijayaraghava Chetty Street (JPT) has changed

The guideline value for Vijayaraghava Chetty Street (JPT) has undergone several revisions over the years. The earliest recorded revision was in 2007, setting the value at Rs 800 per sq.ft. This increased significantly to Rs 3,750 per sq.ft in 2012, marking a 369% rise. However, by 2017, the value dropped to Rs 2,512 per sq.ft, a decrease of 33%. The subsequent revision in 2023 saw the value rise to Rs 3,750 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 4,100 per sq.ft, reflecting a 9% increase from the previous year.

It is worth noting that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 4,900 per sq.ft, placing Vijayaraghava Chetty Street (JPT) below this median.

• Vijayarathinam Pillai Street (W.M): Rs 5,500 per sq.ft (2024)
• Vijya Street (V.P): Rs 4,900 per sq.ft (2024)
• Vinayagam Street (W.M): Rs 6,600 per sq.ft (2024)
• Vinayagar Koil Street Block 63 (W.M): Rs 4,100 per sq.ft (2024)
• Vinayagar Koil Street (JPT): Rs 4,100 per sq.ft (2024)
• Vivekananda Nagar (NP): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghava Chetty Street (JPT)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, leading to a total of Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vijayaraghava Chetty Street (JPT)?

The Sub Registrar Office that covers Vijayaraghava Chetty Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during property registration.

Additionally, the guideline value is used by the registration department to assess the fair value of properties in the area. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Vijayaraghava Chetty Street (JPT)?

The current guideline value of Vijayaraghava Chetty Street (JPT) is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Vijayaraghava Chetty Street (JPT) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Vijayaraghava Chetty Street (JPT) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam is Rs 4,900 per sq.ft as of the 2024 revision, which is higher than the guideline value of Vijayaraghava Chetty Street (JPT).