Guideline Value for Vijayaraghavapuram 2nd Street

Vijayaraghavapuram 2nd Street guideline value

The current guideline value of Vijayaraghavapuram 2nd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Vijayaraghavapuram 2nd Street has changed

The guideline value for Vijayaraghavapuram 2nd Street has seen several revisions over the years. The earliest recorded figure in the register 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 2012 revision saw the guideline value increase significantly to Rs 2,500 per sq.ft, but it then dropped to Rs 1,675 per sq.ft in 2017. The value rebounded to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,750 per sq.ft as of the 2024 revision.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was 9%, followed by a 22% rise from 2003 to 2007. The 2007 to 2012 period saw a substantial increase of 355%. 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, the guideline value has risen by 567% from 2002 to 2024.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Vijayaraghavapuram 2nd Street's 2024 figure below that median.

• Vijayaraghavapuram 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 1st Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 1st Cross Street (5th Street): Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 4th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghavapuram 2nd Street

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

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vijayaraghavapuram 2nd Street?

The Vijayaraghavapuram 2nd Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more details, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Saligramam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vijayaraghavapuram 2nd Street?

The current guideline value of Vijayaraghavapuram 2nd 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 undergone several revisions, starting from Rs 412 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 567%.

What is the land classification for Vijayaraghavapuram 2nd Street?

The land classification for Vijayaraghavapuram 2nd Street is Residential Class III Type - II.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft property would incur a total of Rs 2,47,500 in fees.

Where is the Sub Registrar Office for Vijayaraghavapuram 2nd Street located?

The Sub Registrar Office covering Vijayaraghavapuram 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.