Guideline Value for Visveswarapuram

Visveswarapuram guideline value

The current guideline value of Visveswarapuram, located in Anakaputhur village under the Pammal SRO, is Rs 2,350 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Visveswarapuram has changed

The guideline value of Visveswarapuram has seen significant changes over the years. In 2003, the guideline value was Rs 185 per sq.ft. This increased to Rs 210 per sq.ft in 2007, marking a 14% rise. The value then surged dramatically to Rs 1,407 per sq.ft in 2017, representing a 570% increase. By 2023, the guideline value reached Rs 2,099 per sq.ft, which was a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 2,350 per sq.ft, reflecting a 12% increase from 2023. Notably, the register has no figures for the years 2002 and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 1,170%. This substantial rise highlights the evolving property landscape in Visveswarapuram.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft, with a median value of Rs 1,980 per sq.ft. The guideline value for Visveswarapuram is above this median, indicating its relative position in the locality.

• Vivekanadar Street (Balaji Nagar): Rs 2,350 per sq.ft (2024)
• VOC Nagar 1st Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 2nd Cross Street: Rs 1,870 per sq.ft (2024)
• VOC Nagar 2nd Street: Rs 1,870 per sq.ft (2024)
• VOC Street: Rs 1,760 per sq.ft (2024)
• Vinoba Nagar IVth Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Visveswarapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value amounts to Rs 23,50,000. The stamp duty at 7% would be Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total cost for these fees to Rs 2,11,500. 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 Visveswarapuram?

The Sub Registrar Office that covers Visveswarapuram 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Anakaputhur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial implications of the sale. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Visveswarapuram?

The current guideline value of Visveswarapuram is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 185 per sq.ft in 2003 to Rs 2,350 per sq.ft in 2024, marking an overall increase of 1,170% over this period.

What are the guideline values for other streets in Anakaputhur?

Other streets in Anakaputhur have varying guideline values, with rates ranging from Rs 1,320 to Rs 4,640 per sq.ft. For instance, Vivekanadar Street (Balaji Nagar) has a guideline value of Rs 2,350 per sq.ft.

What fees are associated with buying property in Visveswarapuram?

When buying property in Visveswarapuram, you will incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office do I need to visit for property registration in Visveswarapuram?

You need to visit the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, for property registration in Visveswarapuram.