Guideline Value for Vikneshwarar 2nd Street

Vikneshwarar 2nd Street guideline value

The current guideline value of Vikneshwarar 2nd Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village under the Alandur SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Vikneshwarar 2nd Street has changed

The guideline value for Vikneshwarar 2nd Street has undergone several revisions over the years. In 2002, the value was Rs 306 per sq.ft. This increased to Rs 343 per sq.ft in 2003, marking a 12% rise. By 2007, the value had significantly increased to Rs 1,000 per sq.ft, reflecting a 192% change. The value then rose to Rs 2,500 per sq.ft in 2012, a 150% increase from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%.

From 2017 to 2023, the value surged to Rs 2,500 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is a 12% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 815%. There are no figures available for revisions in the years not listed.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with a median value of Rs 2,800 per sq.ft. The guideline value of Vikneshwarar 2nd Street aligns with this median.

• Vikneshwarar 1st Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vikneshwara Nagar Cross Street: Rs 2,800 per sq.ft (2024)
• Vikneshwarar Nagar Main: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Vijayaganapathi nagar 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vikneshwarar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. 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 details.

Which Sub Registrar Office covers Vikneshwarar 2nd Street?

The Sub Registrar Office that covers Vikneshwarar 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ullagaram. It is used to determine the stamp duty and registration fees when buying or selling property. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable fees.

When registering a property, it is essential to provide the correct guideline value as it ensures compliance with local regulations. This value helps in assessing the tax liabilities associated with the transaction, making it an important aspect for both buyers and sellers to consider.

Frequently asked questions

What is the current guideline value of Vikneshwarar 2nd Street?

The current guideline value of Vikneshwarar 2nd Street is Rs 2,800 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 306 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 815%.

What is the land classification of Vikneshwarar 2nd Street?

Vikneshwarar 2nd Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Vikneshwarar 2nd Street?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,52,000 based on the current guideline value.

Where is the Sub Registrar Office for Vikneshwarar 2nd Street located?

The Sub Registrar Office covering Vikneshwarar 2nd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.