Guideline Value for Vijayaraghavapuram 5th Street

Vijayaraghavapuram 5th Street guideline value

The current guideline value for Vijayaraghavapuram 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of Vijayaraghavapuram 5th Street has changed

The guideline value for Vijayaraghavapuram 5th Street has undergone several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 412 per sq.ft. It 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 jump to Rs 2,500 per sq.ft in 2012, but then decreased to Rs 1,675 per sq.ft in 2017. The value increased again to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from 2002 to 2024, the guideline value has seen an overall increase of 567%. Notably, the revisions from 2012 to 2017 saw a decrease of 33%, while the most significant increase occurred from 2007 to 2012, with a rise of 355%. There are no figures available for the revisions in years not listed.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Vijayaraghavapuram 5th Street is below this median.

• Vijayaraghavapuram 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 4th Street: Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 6th Cross Street (5th Street): Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 4th Cross Street (5th Street): Rs 2,750 per sq.ft (2024)
• Vijayaraghavapuram 7th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayaraghavapuram 5th 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, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vijayaraghavapuram 5th Street?

The Vijayaraghavapuram 5th Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial 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 that need to be paid at the time of registration.

When a property is registered, the guideline value is used to ensure that the transaction is recorded accurately. This helps in maintaining transparency in property transactions and ensures that the appropriate fees are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value for Vijayaraghavapuram 5th Street?

The current guideline value for Vijayaraghavapuram 5th 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 from Rs 412 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 567% over this period.

What is the registration fee for property in Vijayaraghavapuram 5th Street?

The registration fee for property in Vijayaraghavapuram 5th Street is calculated based on the guideline value, which is currently Rs 2,750 per sq.ft.

Where is the Virugambakkam Sub Registrar Office located?

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

How can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator, which will help you determine the total fees based on the guideline value or sale price.