Guideline Value for Vishvanathapuram

Vishvanathapuram guideline value

The current guideline value of Vishvanathapuram, located in Thalakanancherry village under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Vishvanathapuram has changed

The guideline value for Vishvanathapuram has seen several revisions over the years. Starting from the 2007 revision where the value was Rs 1,700 per sq.ft, it increased significantly to Rs 3,500 per sq.ft in 2012, marking a 106% rise. However, the value dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 3,500 per sq.ft, followed by the current 2024 revision which set it at Rs 3,900 per sq.ft, reflecting an 11% increase.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has risen by 129%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value range from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which matches the current guideline value for Vishvanathapuram.

• Vijay Avenue: Rs 4,400 per sq.ft (2024)
• V O C Street / Gandhi Nagar: Rs 2,800 per sq.ft (2024)
• Voltas Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vishvanathapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty charged at 7% would amount to Rs 2,73,000, while the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishvanathapuram?

The Sub Registrar Office that covers Vishvanathapuram is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Thalakanancherry. It determines the minimum value at which property transactions must be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer is required to pay stamp duty and registration fees calculated on the guideline value or the sale price, whichever is higher. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vishvanathapuram?

The current guideline value of Vishvanathapuram is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 129% over this period.

What is the land classification of Vishvanathapuram?

Vishvanathapuram is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the total fees would be Rs 3,51,000.

Where can I find the Sub Registrar Office for Vishvanathapuram?

The Sub Registrar Office for Vishvanathapuram is the Alandur SRO, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.