Guideline Value for Arcot Road South Side Vanniar Street

Arcot Road South Side Vanniar Street guideline value

The current guideline value of Arcot Road South Side Vanniar Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Arcot Road South Side Vanniar Street has changed

The guideline value for Arcot Road South Side Vanniar Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 526 per sq.ft. This increased to Rs 583 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 750 per sq.ft in 2007, which was a substantial increase of 29%. The 2012 revision saw a drop to Rs 6,500 per sq.ft, a decrease of 33% from the previous figure. In 2017, the guideline value rose again to Rs 4,355 per sq.ft, which was a 49% increase from the 2012 value. The most recent revision in 2023 set the value at Rs 6,500 per sq.ft, and the current value is Rs 7,150 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for Arcot Road South Side Vanniar Street is above this median.

• Arcot Road (Others): Rs 13,200 per sq.ft (2024)
• Arcot Road Lane: Rs 9,900 per sq.ft (2024)
• Arcot Road (Door No's134 and 134A) New Door No 140: Rs 13,200 per sq.ft (2024)
• Arcot Road 3rd Street: Rs 9,900 per sq.ft (2024)
• Arcot Road 2nd Street: Rs 9,900 per sq.ft (2024)
• Arcot Road 1st Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Arcot Road South Side Vanniar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total to Rs 6,43,500. Please 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 Arcot Road South Side Vanniar Street?

The Sub Registrar Office that covers Arcot Road South Side Vanniar 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 information.

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

The guideline value is a crucial factor in property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

When you approach the registration office, the guideline value will be referenced to ascertain the duties owed. It is important to note that the actual sale price cannot be lower than the guideline value, which helps to maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Arcot Road South Side Vanniar Street?

The current guideline value of Arcot Road South Side Vanniar Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 526 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 1259% over the years.

What is the registration office for this street?

The registration office for Arcot Road South Side Vanniar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 5,00,500.

What are the guideline values for other streets in Virugambakkam?

Other streets in Virugambakkam have varying guideline values, with rates ranging from Rs 2,750 to Rs 13,200 per sq.ft. Arcot Road South Side Vanniar Street's value is above the median of Rs 4,400 per sq.ft.