Guideline Value for Vikramarajasingapuram

Vikramarajasingapuram guideline value

The current guideline value of Vikramarajasingapuram is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Eraiyur village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Vikramarajasingapuram has changed

The guideline value for Vikramarajasingapuram has seen several revisions over the years. In 2007, the value was set at Rs 40 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it dropped to Rs 201 per sq.ft in 2017 before stabilizing at Rs 300 per sq.ft in both 2023 and 2024. Notably, there are no figures for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most substantial increase occurred from 2007 to 2012, with a rise of 650%. Overall, from 2007 to 2024, the guideline value has increased by 650%.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Vikramarajasingapuram is above this median.

• Vikramarajasingapuram Part - II: Rs 300 per sq.ft (2024)
• Vettaikarapalayam: Rs 200 per sq.ft (2024)
• Vasanthapuram: Rs 200 per sq.ft (2024)
• Vallikattamman Koil Street: Rs 200 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)
• Theru veedhiyamman Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vikramarajasingapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Vikramarajasingapuram?

The Sub Registrar Office that covers Vikramarajasingapuram is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vikramarajasingapuram?

The current guideline value of Vikramarajasingapuram is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 40 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, dropping to Rs 201 per sq.ft in 2017, and stabilizing at Rs 300 per sq.ft in both 2023 and 2024.

What are the guideline values for other streets in Eraiyur?

Other streets in Eraiyur have varying guideline values, with rates ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the total fees would amount to Rs 27,000.

Which office handles property registrations in Vikramarajasingapuram?

The Sriperumpudur Sub Registrar Office handles property registrations in Vikramarajasingapuram, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.