Guideline Value for Viswanathan Cross Street

Viswanathan Cross Street guideline value

The current guideline value of Viswanathan Cross Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Viswanathan Cross Street has changed

Since the earliest recorded revision in 2003, the guideline value for Viswanathan Cross Street has seen significant changes. The 2003 revision set the value at Rs 503 per sq.ft. This figure increased to Rs 600 per sq.ft in 2007, marking a 19% rise. The value then surged to Rs 3,200 per sq.ft in 2012, reflecting a remarkable increase of 433%. However, in the 2017 revision, the value dropped to Rs 2,144 per sq.ft, a decrease of 33%. The 2023 revision saw a return to Rs 3,200 per sq.ft, and the current 2024 revision has further increased it to Rs 3,520 per sq.ft, a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 600%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Rs 3,520 per sq.ft for Viswanathan Cross Street is above this median.

• Viswanathan Street: Rs 3,520 per sq.ft (2024)
• Vivekanada Cross Street: Rs 3,300 per sq.ft (2024)
• Vivekanadar Street (Gandhi Nagar inside): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Chandrasekaran Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Kolappan Street): Rs 2,750 per sq.ft (2024)
• Vishveshvaran Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathan Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. It is important to 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 details.

Which Sub Registrar Office covers Viswanathan Cross Street?

The Sub Registrar Office that covers Viswanathan Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Viswanathan Cross Street?

The current guideline value of Viswanathan Cross Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 503 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 600% over this period.

What is the land classification for Viswanathan Cross Street?

Viswanathan Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Viswanathan Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 35,20,000 would incur a stamp duty of Rs 2,46,400 at 7%.