Guideline Value for Vishwanathar Koil Street

Vishwanathar Koil Street guideline value

The current guideline value of Vishwanathar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Vishwanathar Koil Street has changed

The guideline value for Vishwanathar Koil Street has seen several revisions over the years. In 2002, the guideline value was Rs 353 per sq.ft, which increased to Rs 450 per sq.ft in 2003, marking a rise of 27%. The value continued to climb, reaching Rs 800 per sq.ft in 2007, an increase of 78%. By 2012, the value had risen significantly to Rs 3,000 per sq.ft, which was a substantial increase of 275% from the previous revision. However, this value decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and finally, it increased to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 835%. The register has no figure for this street for the years not mentioned in the revisions.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, which means that the guideline value of Vishwanathar Koil Street is below this median.

• Vishwanathapuram Street: Rs 3,850 per sq.ft (2024)
• V.P.Line: Rs 2,750 per sq.ft (2024)
• Well Sowrith Street: Rs 2,750 per sq.ft (2024)
• V.G.P.Murthy Square: Rs 11,000 per sq.ft (2024)
• West Raja Street: Rs 3,300 per sq.ft (2024)
• 100 Feet Road: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vishwanathar Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vishwanathar Koil Street?

The Sub Registrar Office that covers Vishwanathar Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Parangimalai. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, 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 registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vishwanathar Koil Street?

The current guideline value of Vishwanathar Koil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 353 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 835% over the years.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Rs 3,300 per sq.ft for Vishwanathar Koil Street.

What are the stamp duty and registration fees for property in Vishwanathar Koil Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Vishwanathar Koil Street located?

The Sub Registrar Office for Vishwanathar Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.