Guideline Value for Vvs Iyer Street

Vvs Iyer Street guideline value

The current guideline value of Vvs Iyer Street is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vvs Iyer Street has changed

The guideline value of Vvs Iyer Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,300 per sq.ft. This value decreased to Rs 1,541 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 2,300 per sq.ft. The most recent revision in 2024 saw another increase of 10%, resulting in the current guideline value of Rs 2,530 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vvs Iyer Street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 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. The median value for these streets is Rs 2,200 per sq.ft, which means that Vvs Iyer Street's 2024 figure is above this median.

• Yamuna Street: Rs 2,200 per sq.ft (2024)
• Yathaval Street: Rs 2,530 per sq.ft (2024)
• Viyasar Street: Rs 1,320 per sq.ft (2024)
• Vivekanandan Street (Vallalar Street): Rs 2,530 per sq.ft (2024)
• Vivakanantha 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 Vvs Iyer Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty, charged at 7%, would be Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Therefore, the total cost for stamp duty and registration fees would be Rs 2,27,700. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vvs Iyer Street?

The Sub Registrar Office that covers Vvs Iyer 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 Irumpuliyur

The guideline value plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property registration.

When you register a property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Vvs Iyer Street?

The current guideline value of Vvs Iyer Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally reached Rs 2,530 per sq.ft in 2024.

What is the land classification of Vvs Iyer Street?

The land classification for Vvs Iyer Street is Residential Special Type - I.

What is the stamp duty rate for properties in Vvs Iyer Street?

The stamp duty rate for properties in Vvs Iyer Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vvs Iyer Street located?

The Sub Registrar Office for Vvs Iyer Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.