Guideline Value for Viyasar Street

Viyasar Street guideline value

The current guideline value of Viyasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Viyasar Street has changed

The guideline value for Viyasar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for Viyasar Street for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the 2024 figure for Viyasar Street.

• VOC Saminathan Street: Rs 2,750 per sq.ft (2024)
• Viswamithran Street: Rs 1,650 per sq.ft (2024)
• Vu.Ve.Saminatha Cross Street: Rs 2,750 per sq.ft (2024)
• Vu.Ve.Saminatha Street: Rs 3,850 per sq.ft (2024)
• Vinayagar St: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Cross St: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Viyasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Viyasar Street?

Viyasar Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is crucial for calculating the stamp duty and registration fees, which are based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Viyasar Street?

The current guideline value of Viyasar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Viyasar Street?

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

Where can I find the Sub Registrar Office for Viyasar Street?

The Sub Registrar Office covering Viyasar Street is the Tambaram Joint 1 SRO, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.