Guideline Value for Visalakshi Nagar

Visalakshi Nagar guideline value

The current guideline value of Visalakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class II Type - II.

How the guideline value of Visalakshi Nagar has changed

The guideline value of Visalakshi Nagar has undergone several revisions over the years. The oldest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This value increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 sees the guideline value rise to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This demonstrates a significant upward trend in the guideline value over the years, particularly between the 2017 and 2024 revisions.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the guideline value of Visalakshi Nagar below this median.

• V.J. Nagar: Rs 1,980 per sq.ft (2024)
• VOC Street: Rs 1,650 per sq.ft (2024)
• Vtb Kuberan Garden: Rs 3,300 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,840 per sq.ft (2024)
• Vigneshwara Nagar (ward 7): Rs 1,980 per sq.ft (2024)
• Vigneshwara Nagar (ward 6): Rs 1,980 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total charges to Rs 1,78,200. 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 Visalakshi Nagar?

The Sub Registrar Office that covers Visalakshi Nagar 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 further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Kerugambakkam. 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 in this area, it is essential to be aware of the current guideline value, as it directly impacts the financial obligations during the registration process. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Visalakshi Nagar?

The current guideline value of Visalakshi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Visalakshi Nagar?

Visalakshi Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations for Visalakshi Nagar?

The Pammal Sub Registrar Office handles property registrations for Visalakshi Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.