Guideline Value for Viswanathan Palani Street

Viswanathan Palani Street guideline value

The current guideline value of Viswanathan Palani Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Viswanathan Palani Street has changed

The guideline value for Viswanathan Palani Street has seen several revisions over the years. In the 2007 revision, the value was Rs 450 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012. However, there was a decrease to Rs 1,742 per sq.ft in 2017. The value then rose to Rs 2,600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,860 per sq.ft. There are no figures available for the years 2002 and 2003.

Between the revisions, the changes are noteworthy. From 2007 to 2012, the value increased by 478%. However, it decreased by 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and subsequently increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 536%.

Guideline values in Mogalivakkam

Mogalivakkam village has a total of 98 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Viswanathan Palani Street's 2024 figure below that median.

• Vgn Royal Court: Rs 2,970 per sq.ft (2024)
• V.G.N Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• V.G.N. Brindavan Garden Extension: Rs 3,520 per sq.ft (2024)
• V.G.N. Blooming Garden: Rs 3,520 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathan Palani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, making the total cost for these fees Rs 2,57,400. It is important to note that the 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 details.

Which Sub Registrar Office covers Viswanathan Palani Street?

The Sub Registrar Office that covers Viswanathan Palani Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Mogalivakkam. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property should be registered. This value is essential for legal documentation and helps in maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Viswanathan Palani Street?

The current guideline value of Viswanathan Palani Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 536% over the years.

What is the median guideline value in Mogalivakkam?

The median guideline value in Mogalivakkam is Rs 2,970 per sq.ft, with Viswanathan Palani Street's current value being below this median.

What are the stamp duty and registration fees for property in Viswanathan Palani Street?

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Which office handles property registrations for Viswanathan Palani Street?

The Kunrathur Sub Registrar Office handles property registrations for Viswanathan Palani Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.