Guideline Value for Vimal Avenue

Vimal Avenue guideline value

The current guideline value of Vimal Avenue in Peerklankaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Vimal Avenue has changed

The guideline value for Vimal Avenue has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by another increase to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Vimal Avenue.

• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vijayalakshmi Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 4st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 3st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 2st cross Street: Rs 1,100 per sq.ft (2024)
• Vijayalakshmi 1st cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vimal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. 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 Vimal Avenue?

The Sub Registrar Office that covers Vimal Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value plays a crucial role in the property registration process in Peerklankaranai. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value helps maintain transparency and ensures that the property transactions are conducted at a fair value as determined by the local registration authority. It is essential for both parties to understand how this value impacts their financial obligations in the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Vimal Avenue?

The current guideline value of Vimal Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Vimal Avenue?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 16,50,000. The stamp duty at 7% is Rs 1,15,500, and the registration fee at 2% is Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Vimal Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Vimal Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What other streets have guideline values in Peerklankaranai?

Other streets in Peerklankaranai include Vinayagar Koil Street at Rs 1,650 per sq.ft, and several Vijayalakshmi streets at Rs 1,100 per sq.ft.