Guideline Value for Visalakshi Nagar

Visalakshi Nagar guideline value

The current guideline value of Visalakshi Nagar, located in Pulikoradu village under the Tambaram Joint 1 SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Visalakshi Nagar has changed

The guideline value for Visalakshi Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 200 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a 200% rise. The value then rose to Rs 800 per sq.ft in 2023, which is a 33% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from 2023.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value among these streets is Rs 880 per sq.ft, which is the same as the guideline value for Visalakshi Nagar.

• Valluvar Street: Rs 880 per sq.ft (2024)
• Vaigai Street: Rs 880 per sq.ft (2024)
• Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• Thiruneermalai Road: Rs 2,750 per sq.ft (2024)
• Sri Pasumpon Nagar: Rs 2,200 per sq.ft (2024)
• Sri Marudhi Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Visalakshi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Visalakshi Nagar?

The Sub Registrar Office that covers Visalakshi Nagar 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 Pulikoradu

The guideline value is an important factor when registering property in Pulikoradu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the duty is charged based on the higher of the guideline value or the sale price.

When purchasing property, it is essential to consider the guideline value as it impacts the overall cost of the transaction. Understanding this value can help in budgeting for additional costs associated with property registration.

Frequently asked questions

What is the current guideline value of Visalakshi Nagar?

The current guideline value of Visalakshi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, marking a total increase of 340% over the years.

What are the other streets in Pulikoradu with the same guideline value?

Other streets in Pulikoradu with the same guideline value of Rs 880 per sq.ft in 2024 include Valluvar Street, Vaigai Street, and Thiruvalluvar Street.

What are the stamp duty and registration fees for property in Visalakshi Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Visalakshi Nagar located?

The Sub Registrar Office for Visalakshi Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.