Guideline Value for Visvesvapuram

Visvesvapuram guideline value

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

How the guideline value of Visvesvapuram has changed

The guideline value for Visvesvapuram has seen significant changes over the years. In 2002, the value was Rs 161 per sq.ft, which increased to Rs 182 per sq.ft in 2003, marking a rise of 13%. The value then jumped to Rs 325 per sq.ft in 2007, reflecting a substantial increase of 79%. Following this, the value surged to Rs 1,139 per sq.ft in 2017, a remarkable rise of 250%. The 2023 revision set the value at Rs 1,700 per sq.ft, which was a 49% increase from 2017. The most recent revision in 2024 saw the guideline value rise to Rs 1,870 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2012 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1061%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, placing Visvesvapuram's 2024 figure below this median.

• Vishwespuram extn: 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 Visvesvapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. Please note that the 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 information on fees applicable to your property transactions.

Which Sub Registrar Office covers Visvesvapuram?

The Sub Registrar Office that covers Visvesvapuram is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The registration process ensures that the transaction is legally recognized and the ownership is transferred to the buyer.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Visvesvapuram?

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

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 161 per sq.ft in 2002 to Rs 1,870 per sq.ft in 2024, which is an overall increase of 1061%.

What is the land classification of Visvesvapuram?

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

Where can I find the Sub Registrar Office for Visvesvapuram?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 18,70,000, leading to specific fees that must be paid during registration.