Guideline Value for Vishwespuram extn

Vishwespuram extn guideline value

The current guideline value of Vishwespuram extn is Rs 1,870 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vishwespuram extn has changed

The guideline value for Vishwespuram extn has seen several revisions over the years. The 2017 revision set the value at Rs 1,139 per sq.ft, which increased to Rs 1,700 per sq.ft in the 2023 revision. The current 2024 revision has raised the guideline value to Rs 1,870 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The change from 2017 to 2023 was a significant 49% increase.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Vishwespuram extn is below this median.

• Visvesvapuram: Rs 1,870 per sq.ft (2024)
• Vivekanadar Street / VOC Nagar: Rs 1,980 per sq.ft (2024)
• V.O.C Nagar,1st Cross Street: Rs 2,750 per sq.ft (2024)
• V.O.C Nagar, 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• VOC Nagar/Aravindan Street: Rs 2,750 per sq.ft (2024)
• VOC Street / Ambedkar Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vishwespuram extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value would be Rs 18,70,000. The stamp duty at 7% would amount to Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. The duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vishwespuram extn?

The Vishwespuram extn area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO online.

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

The guideline value is a crucial factor when registering property in Pammal. It determines the minimum value at which a property can be sold, and it is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, it is important to be aware of the guideline value as it ensures compliance with legal requirements and helps in assessing the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Vishwespuram extn?

The current guideline value of Vishwespuram extn is Rs 1,870 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,139 per sq.ft in 2017 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Vishwespuram extn?

Vishwespuram extn is classified as Residential Class III Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Vishwespuram extn?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 18,70,000 would incur a stamp duty of Rs 1,30,900.