Guideline Value for Vijayaraghavapuram 5th Cross Street

Vijayaraghavapuram 5th Cross Street guideline value

The current guideline value of Vijayaraghavapuram 5th Cross 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 Cross Street has changed

The guideline value for Vijayaraghavapuram 5th Cross Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 412 per sq.ft. This increased to Rs 450 per sq.ft in 2003, representing a 9% increase. The value then rose to Rs 550 per sq.ft in 2007, marking a 22% change. Following that, there was a significant jump to Rs 2,500 per sq.ft in 2012, which was a 355% increase. In 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% drop. The value then increased again to Rs 2,500 per sq.ft in 2023, and finally reached Rs 2,750 per sq.ft in the 2024 revision, a 10% increase.

There are no figures available for the revisions in years other than those listed. 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 that have 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 Cross Street is below this median.

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

Stamp duty and registration fee for property in Vijayaraghavapuram 5th Cross 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 and the sale price.

You can use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vijayaraghavapuram 5th Cross Street?

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

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

The guideline value plays a crucial role during the registration of property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it directly affects the costs associated with registration. Buyers should ensure that the sale price is either equal to or higher than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Vijayaraghavapuram 5th Cross Street?

The current guideline value of Vijayaraghavapuram 5th Cross 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 5th Cross Street?

The land classification for Vijayaraghavapuram 5th Cross Street is Residential Class III Type - II.

What are the stamp duty and registration fees for property 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.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers Vijayaraghavapuram 5th Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.