Guideline Value for Vishalatchi Street

Vishalatchi Street guideline value

The current guideline value of Vishalatchi Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vishalatchi Street has changed

The guideline value for Vishalatchi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 64% from the 2017 revision of Rs 2,345 per sq.ft. Prior to that, the 2012 revision had set the value at Rs 3,500 per sq.ft, which reflects a decrease of 33% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the current value of Vishalatchi Street.

• Vivekananthar Street: Rs 3,850 per sq.ft (2024)
• Viyasar Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Vijaya Nagar 2nd Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vishalatchi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that 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 Vishalatchi Street?

The Sub Registrar Office that covers Vishalatchi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for additional information.

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

The guideline value is a crucial factor during property registration in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vishalatchi Street?

The current guideline value of Vishalatchi Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then to Rs 3,850 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024 and a 10% increase overall from 2012 to 2024.

What is the land classification for Vishalatchi Street?

Vishalatchi Street is classified as Residential Class II Type - I, which indicates its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for Vishalatchi Street?

The Sub Registrar Office for Vishalatchi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated for property transactions?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000.