Guideline Value for Viyasar Street

Viyasar Street guideline value

The current guideline value of Viyasar Street in Irumpuliyur village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - II.

How the guideline value of Viyasar Street has changed

The guideline value for Viyasar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision, reflecting a rise of 140%. However, in the 2017 revision, the value decreased to Rs 804 per sq.ft, marking a decline of 33%. The subsequent revision in 2023 saw an increase to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in 2024, which is a 10% rise from the previous year.

From the 2017 revision to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 164%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are a total of 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Viyasar Street is below this median.

• Vivekanandan Street (Vallalar Street): Rs 2,530 per sq.ft (2024)
• Vivakanantha Street: Rs 2,530 per sq.ft (2024)
• Vvs Iyer Street: Rs 2,530 per sq.ft (2024)
• Yamuna Street: Rs 2,200 per sq.ft (2024)
• Yathaval Street: Rs 2,530 per sq.ft (2024)
• Vijayarengan Street: Rs 2,530 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, resulting in a total of Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Viyasar Street?

The Viyasar Street is covered by 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 Irumpuliyur

The guideline value is a crucial factor during the registration process of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives adequate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Viyasar Street?

The current guideline value of Viyasar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 500 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 164%.

What are the stamp duty and registration fees for properties on Viyasar Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,18,800.

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

The Sub Registrar Office covering Viyasar Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

What is the land classification of Viyasar Street?

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