Guideline Value for Vishnu Priya Avenue

Vishnu Priya Avenue guideline value

The current guideline value of Vishnu Priya Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Gooduvancheri SRO, and is classified as Commercial Special Type - I.

How the guideline value of Vishnu Priya Avenue has changed

Over the years, the guideline value of Vishnu Priya Avenue has seen several revisions. The earliest recorded value was Rs 245 per sq.ft in 2007. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 390% rise. However, the value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the increase stands at 390%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. The guideline value for Vishnu Priya Avenue aligns with this median.

• Vishnu Avenue: Rs 1,200 per sq.ft (2024)
• Vimal Nagar: Rs 1,200 per sq.ft (2024)
• Vimala nagar: Rs 800 per sq.ft (2024)
• Vijay Nagar: Rs 1,200 per sq.ft (2024)
• Vijay Gopal Nagar: Rs 1,200 per sq.ft (2024)
• Vignesh Avenue Extn: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vishnu Priya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. Please note that 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 Vishnu Priya Avenue?

The Sub Registrar Office covering Vishnu Priya Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vishnu Priya Avenue?

The current guideline value of Vishnu Priya Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017. It has remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What is the land classification of Vishnu Priya Avenue?

Vishnu Priya Avenue is classified as Commercial Special Type - I.

Where can I find the Sub Registrar Office for Vishnu Priya Avenue?

The Sub Registrar Office for Vishnu Priya Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Madambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 12,00,000 would incur a stamp duty of Rs 84,000 at a rate of 7%.