Guideline Value for Vikshadha Street

Vikshadha Street guideline value

The current guideline value of Vikshadha Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Vikshadha Street has changed

The guideline value for Vikshadha Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This consistent rise in the guideline value highlights the changes in property valuation over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value in this village is Rs 2,420 per sq.ft, placing Vikshadha Street's 2024 figure below that median.

• Vinoba Street: Rs 2,420 per sq.ft (2024)
• Vgn Samudra: Rs 4,930 per sq.ft (2024)
• VOC Street / Durga Nagar: Rs 2,420 per sq.ft (2024)
• V.G.N. Grand Historia: Rs 2,200 per sq.ft (2024)
• West Kulakarai Street: Rs 1,320 per sq.ft (2024)
• Venkateswara Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vikshadha Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vikshadha Street?

The Sub Registrar Office that covers Vikshadha Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Thiruneermalai

The guideline value plays a crucial role during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vikshadha Street?

The current guideline value of Vikshadha Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the median guideline value in Thiruneermalai?

The median guideline value in Thiruneermalai is Rs 2,420 per sq.ft, which is above the current guideline value of Vikshadha Street.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Vikshadha Street?

The Pammal Sub Registrar Office handles property registration for Vikshadha Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.