Guideline Value for Vu.Ve.Saminatha Cross Street

Vu.Ve.Saminatha Cross Street guideline value

The current guideline value of Vu.Ve.Saminatha Cross Street is Rs 2,750 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 - II.

How the guideline value of Vu.Ve.Saminatha Cross Street has changed

The guideline value for Vu.Ve.Saminatha Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vu.Ve.Saminatha Cross Street above this median.

• Vu.Ve.Saminatha Street: Rs 3,850 per sq.ft (2024)
• VOC Saminathan Street: Rs 2,750 per sq.ft (2024)
• Yamuna Street: Rs 2,750 per sq.ft (2024)
• Viyasar Street: Rs 1,650 per sq.ft (2024)
• Viswamithran Street: Rs 1,650 per sq.ft (2024)
• 50 Feet 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vu.Ve.Saminatha Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Vu.Ve.Saminatha Cross Street?

The Sub Registrar Office that covers Vu.Ve.Saminatha Cross Street is 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 property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, it is crucial to ensure that the transaction adheres to the guideline value set by the authorities. This helps in maintaining transparency and legality in property dealings within Chitlapakkam.

Frequently asked questions

What is the current guideline value of Vu.Ve.Saminatha Cross Street?

The current guideline value of Vu.Ve.Saminatha Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012, showing a significant change over the years.

What is the land classification for Vu.Ve.Saminatha Cross Street?

Vu.Ve.Saminatha Cross Street is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current guideline value would incur a total cost of Rs 2,47,500 in fees.

Where is the Sub Registrar Office for this street located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone.