Guideline Value for Vijayarengan Street

Vijayarengan Street guideline value

The current guideline value of Vijayarengan Street in Irumpuliyur village, under the Tambaram Joint 1 SRO, is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Vijayarengan Street has changed

The guideline value for Vijayarengan Street has undergone several revisions over the years. Starting from Rs 500 per sq.ft in 2007, it increased significantly to Rs 2,300 per sq.ft in 2012. However, in 2017, the value saw a decrease to Rs 1,541 per sq.ft. The subsequent revision in 2023 raised it to Rs 2,300 per sq.ft, and the latest revision in 2024 has set it at Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 406%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vijayarengan Street above this median.

• Vijayaganapathy Street: Rs 880 per sq.ft (2024)
• Vivakanantha Street: Rs 2,530 per sq.ft (2024)
• Vivekanandan Street (Vallalar Street): Rs 2,530 per sq.ft (2024)
• Viyasar Street: Rs 1,320 per sq.ft (2024)
• Vvs Iyer Street: Rs 2,530 per sq.ft (2024)
• Yamuna Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vijayarengan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600. Together, these fees total Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vijayarengan Street?

The Sub Registrar Office that covers Vijayarengan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should ensure they are informed about the current guideline value to accurately estimate their expenses related to registration and taxes.

Frequently asked questions

What is the current guideline value of Vijayarengan Street?

The current guideline value of Vijayarengan Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 406% over the years.

What are the other streets with their guideline values in Irumpuliyur?

Other streets in Irumpuliyur include Vijayaganapathy Street at Rs 880 per sq.ft, Vivakanantha Street at Rs 2,530 per sq.ft, and Vivekanandan Street (Vallalar Street) also at Rs 2,530 per sq.ft, among others.

What are the stamp duty and registration fees for property in Vijayarengan Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000, with a stamp duty of Rs 1,77,100 and a registration fee of Rs 50,600, totaling Rs 2,27,700.

Which office handles the registration for Vijayarengan Street?

The Tambaram Joint 1 Sub Registrar Office handles the registration for Vijayarengan Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.