Guideline Value for Vijayaraghavapuram 8th Cross Street

Vijayaraghavapuram 8th Cross Street guideline value

The current guideline value of Vijayaraghavapuram 8th 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, classified as Residential Class III Type - II.

How the guideline value of Vijayaraghavapuram 8th Cross Street has changed

The guideline value for Vijayaraghavapuram 8th Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 412 per sq.ft. This increased to Rs 450 per sq.ft in 2003, followed by a rise to Rs 550 per sq.ft in 2007. The value then saw a significant jump to Rs 2,500 per sq.ft in 2012, which was later revised down 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 stands at Rs 2,750 per sq.ft in the 2024 revision.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +9%, followed by a +22% rise from 2003 to 2007. The most substantial change was from 2007 to 2012, where the value surged by +355%. However, it decreased by -33% from 2012 to 2017. The value increased by +49% from 2017 to 2023, and the latest revision from 2023 to 2024 reflects a +10% increase. 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 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median guideline value in this area is Rs 4,400 per sq.ft, placing Vijayaraghavapuram 8th Cross Street's 2024 figure below that median.

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

Stamp duty and registration fee for property in Vijayaraghavapuram 8th Cross Street

For a 1,000 sq.ft plot at the current guideline value 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, bringing the total to Rs 2,47,500. It is important to 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 8th Cross Street?

The Vijayaraghavapuram 8th Cross 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 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. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value serves as a benchmark for the transaction. It is essential to ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Vijayaraghavapuram 8th Cross Street?

The current guideline value of Vijayaraghavapuram 8th 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 from Rs 412 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +567% over the years.

What is the classification of land in Vijayaraghavapuram 8th Cross Street?

The land classification for Vijayaraghavapuram 8th Cross Street is Residential Class III Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Vijayaraghavapuram 8th Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would be Rs 1,92,500.