Guideline Value for South New Street (Vanuvampet)

South New Street (Vanuvampet) guideline value

The current guideline value of South New Street (Vanuvampet) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO, classified as Residential Class II Type - II.

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

The guideline value of South New Street (Vanuvampet) has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. The change from 2023 to 2024 reflects a 12% rise. Overall, comparing the 2012 figure to the current 2024 value shows a 12% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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 a median value of Rs 3,900 per sq.ft. The guideline value of South New Street (Vanuvampet) is below this median.

• South Main Road 2nd Street: Rs 3,900 per sq.ft (2024)
• South Pennai Street: Rs 2,800 per sq.ft (2024)
• South Main Road 2nd Lane: Rs 2,800 per sq.ft (2024)
• South Main Road 1st Lane: Rs 2,800 per sq.ft (2024)
• South Main First Street: Rs 3,900 per sq.ft (2024)
• South Main 3rd Street: Rs 2,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South New Street (Vanuvampet)?

The Sub Registrar Office that covers South 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the official value set by the government.

When a property is registered, the guideline value helps determine the legal documentation and the financial obligations involved in the transaction. It is essential for buyers and sellers to understand how this value impacts their overall costs during the property transfer process.

Frequently asked questions

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

The current guideline value of South New Street (Vanuvampet) is Rs 2,800 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 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

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

South New Street (Vanuvampet) is classified as Residential Class II Type - II.

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Where can I find the Sub Registrar Office for South New Street (Vanuvampet)?

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