Guideline Value for Vijayaraghavapuram 1st Street

Vijayaraghavapuram 1st Street guideline value

The current guideline value of Vijayaraghavapuram 1st Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Vijayaraghavapuram 1st Street has changed

The guideline value for Vijayaraghavapuram 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 412 per sq.ft. This value increased to Rs 450 per sq.ft in 2003, followed by a rise to Rs 550 per sq.ft in 2007. The value saw a significant increase to Rs 2,500 per sq.ft in 2012, which then dropped to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2002 to 2003, the guideline value increased by 9%. The value rose by 22% from 2003 to 2007, followed by a substantial 355% increase from 2007 to 2012. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 567%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,400 per sq.ft, placing the 2024 figure of Vijayaraghavapuram 1st Street below the median.

• Vijayaraghavapuram 1st Cross Street (5th Street): Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 2nd Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 3rd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghavapuram 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayaraghavapuram 1st Street?

The Sub Registrar Office that covers Vijayaraghavapuram 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Saligramam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded accurately. Buyers and sellers must consider this value to comply with legal requirements and avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vijayaraghavapuram 1st Street?

The current guideline value of Vijayaraghavapuram 1st Street is Rs 2,750 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 412 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 567% over this period.

What is the land classification for Vijayaraghavapuram 1st Street?

Vijayaraghavapuram 1st Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Where is the Sub Registrar Office for this street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.