Guideline Value for Viswanathan nagar MS

Viswanathan nagar MS guideline value

The current guideline value of Viswanathan nagar MS is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Viswanathan nagar MS has changed

The guideline value for Viswanathan nagar MS has undergone several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 has brought the value to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 450%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Poonthamallee

Poonthamallee village has 257 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Viswanathan nagar MS.

• VPR Avenue: Rs 2,200 per sq.ft (2024)
• VPS Avenue: Rs 2,200 per sq.ft (2024)
• VPV Avenue: Rs 2,200 per sq.ft (2024)
• Vijayalakshmi Nagar 3rd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 3,250 per sq.ft (2024)
• Vijayalakshmi Nagar 1st Street: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathan nagar MS

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that 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 information.

Which Sub Registrar Office covers Viswanathan nagar MS?

The Sub Registrar Office that covers Viswanathan nagar MS is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. It is important to be aware of these values to avoid any legal issues during the transaction process.

Frequently asked questions

What is the current guideline value of Viswanathan nagar MS?

The current guideline value of Viswanathan nagar MS is Rs 2,200 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 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the stamp duty rate for property in Viswanathan nagar MS?

The stamp duty rate for property in Viswanathan nagar MS is 7% of the guideline value or the sale price, whichever is higher.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How can I calculate the registration fee for my property?

You can calculate the registration fee for your property using the stamp duty and registration fee calculator available online.