Guideline Value for North New Street (Vanuvampet)

North New Street (Vanuvampet) guideline value

The current guideline value of North New Street (Vanuvampet) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of North New Street (Vanuvampet) has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. This figure decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a 33% decline. However, from 2017 to 2023, the value increased significantly to Rs 3,500 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, reflecting an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for North New Street (Vanuvampet). Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median value also being Rs 3,900 per sq.ft. North New Street (Vanuvampet) is at this median value for 2024.

• North New Street: Rs 3,900 per sq.ft (2024)
• N S K Road: Rs 5,000 per sq.ft (2024)
• Nilamangai Nagar Avvaiyar Street: Rs 3,900 per sq.ft (2024)
• Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Odai Street: Rs 3,900 per sq.ft (2024)
• Officers Colony 1st Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in North New Street (Vanuvampet)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 North New Street (Vanuvampet)?

The Sub Registrar Office that covers North New Street (Vanuvampet) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Adambakkam. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that all transactions are recorded at a fair value set by the government.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is used to determine the applicable taxes and fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of North New Street (Vanuvampet)?

The current guideline value of North New Street (Vanuvampet) is Rs 3,900 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 3,900 per sq.ft in 2024.

What is the land classification for North New Street (Vanuvampet)?

North New Street (Vanuvampet) is classified as Residential Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for North New Street (Vanuvampet)?

The Sub Registrar Office for North New Street (Vanuvampet) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.