Guideline Value for Vikkaravandi Govindasamy Street

Vikkaravandi Govindasamy Street guideline value

The current guideline value of Vikkaravandi Govindasamy Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vikkaravandi Govindasamy Street has changed

Over the years, the guideline value of Vikkaravandi Govindasamy Street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 200% increase. However, in the 2017 revision, it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 1,320 per sq.ft, representing a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, bringing the value up to Rs 1,200 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%, demonstrating substantial growth in this period. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 1,650 per sq.ft, placing Vikkaravandi Govindasamy Street below this median.

• Vetrivel Street: Rs 1,870 per sq.ft (2024)
• V.O.C. Street: Rs 3,300 per sq.ft (2024)
• Venu Gopal Swamy Koil Street: Rs 1,650 per sq.ft (2024)
• V.O.C. Street Lane: Rs 3,300 per sq.ft (2024)
• Vallimayil Market City: Rs 2,210 per sq.ft (2024)
• Vallalar Nagar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vikkaravandi Govindasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Vikkaravandi Govindasamy Street?

The Vikkaravandi Govindasamy Street falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Naravarikuppam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Vikkaravandi Govindasamy Street?

The current guideline value of Vikkaravandi Govindasamy Street is Rs 1,320 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 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 230% over this period.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Vikkaravandi Govindasamy Street is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for this street?

The Redhills Sub Registrar Office handles property registrations for Vikkaravandi Govindasamy Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Naravarikuppam?

The median guideline value in Naravarikuppam is Rs 1,650 per sq.ft, which is higher than the current guideline value of Vikkaravandi Govindasamy Street.