Guideline Value for Vilayattu thidal street

Vilayattu thidal street guideline value

The current guideline value of Vilayattu thidal street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village, under the Periamet SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Vilayattu thidal street has changed

The guideline value for Vilayattu thidal street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 2,000 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in the 2012 revision, marking a 225% increase. However, in the 2017 revision, the value decreased to Rs 4,355 per sq.ft, which was a decline of 33%. The value then rose to Rs 6,500 per sq.ft in the 2023 revision, showing a 49% increase. Finally, the current 2024 revision sets the value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, which is equal to the 2024 guideline value of Vilayattu thidal street.

• Victoria Cresent Road(a)Dr.Cherian Road: Rs 15,000 per sq.ft (2024)
• Vivekandan road: Rs 4,900 per sq.ft (2024)
• Venugopal Pillai street: Rs 7,100 per sq.ft (2024)
• Venugopal Avenue Main Road: Rs 11,000 per sq.ft (2024)
• Venugopal Avenue 2nd Lane: Rs 11,000 per sq.ft (2024)
• Venugopal Avenue 1st Lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vilayattu thidal street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, making the total charges Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vilayattu thidal street?

The Sub Registrar Office that covers Vilayattu thidal street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Egmore. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it directly impacts the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable charges. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Vilayattu thidal street?

The current guideline value of Vilayattu thidal street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent increase from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft in 2024, a rise of 9%.

What is the land classification of Vilayattu thidal street?

Vilayattu thidal street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vilayattu thidal street?

The Sub Registrar Office for Vilayattu thidal street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties on Vilayattu thidal street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total charge of Rs 6,39,000, including stamp duty and registration fees.