Guideline Value for Vikneshwarar 3rd Street

Vikneshwarar 3rd Street guideline value

The current guideline value of Vikneshwarar 3rd 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 is classified as Residential Class II Type - I.

How the guideline value of Vikneshwarar 3rd Street has changed

The guideline value for Vikneshwarar 3rd Street has seen several revisions over the years. In 2002, the value was Rs 306 per sq.ft, which increased to Rs 343 per sq.ft in 2003. The value then rose significantly to Rs 1,000 per sq.ft in 2007, followed by a further increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 2,500 per sq.ft, and as of 2024, it stands at Rs 2,800 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 815%. The changes between the revisions include a 12% rise from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 150% increase from 2007 to 2012, a 192% rise from 2003 to 2007, and a 12% increase from 2002 to 2003. There are no figures available for any other revisions for this street.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 2,800 per sq.ft, which is the same as the current guideline value for Vikneshwarar 3rd Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total cost for these charges Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vikneshwarar 3rd Street?

The Sub Registrar Office that covers Vikneshwarar 3rd 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 when buying or selling property in Ullagaram. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the property transaction process. Buyers and sellers must consider this value to ensure compliance with the regulations set by the Registration Department.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vikneshwarar 3rd Street?

The current guideline value of Vikneshwarar 3rd 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 from Rs 306 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty and registration fees for property in Vikneshwarar 3rd Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,96,000 and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers this street?

The Alandur Sub Registrar Office covers Vikneshwarar 3rd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Vikneshwarar 3rd Street?

The land classification for Vikneshwarar 3rd Street is Residential Class II Type - I.