Guideline Value for Viyasar Street

Viyasar Street guideline value

The current guideline value of Viyasar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Viyasar Street has changed

The guideline value for Viyasar Street has undergone several revisions over the years. In the 2012 revision, the value was Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the value saw a significant increase to Rs 3,500 per sq.ft in the 2023 revision, followed by another increase to Rs 3,850 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2023 revision saw a 49% increase from the 2017 figure. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which is equal to the current figure for Viyasar Street.

• Vivekananthar Street: Rs 3,850 per sq.ft (2024)
• Vishalatchi Street: Rs 3,850 per sq.ft (2024)
• V.V. Giri Street: Rs 3,850 per sq.ft (2024)
• West Kamakodi Nagar: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Agasthiyar Street: Rs 4,400 per sq.ft (2024)
• WEST KAMAKODI NAGAR - Arunagiri Street: Rs 4,400 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total costs together Rs 3,46,500. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Viyasar Street?

The Sub Registrar Office covering Viyasar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Valasaravakkam. It helps determine the stamp duty and registration fees that need to be paid, ensuring that all transactions are in compliance with the regulations set by the state.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This means that the buyer and seller must consider the guideline value when negotiating the sale price to ensure that it meets the required legal standards.

Frequently asked questions

What is the current guideline value of Viyasar Street?

The current guideline value of Viyasar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Viyasar Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 38,50,000. The stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Viyasar Street?

The Virugambakkam Sub Registrar Office covers Viyasar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Viyasar Street?

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