Guideline Value for V.P. Chinthan Street

V.P. Chinthan Street guideline value

The current guideline value of V.P. Chinthan Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Padiyanallur village under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of V.P. Chinthan Street has changed

The guideline value for V.P. Chinthan Street has undergone several revisions over the years. In 2003, the value was Rs 74 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 600 per sq.ft in 2012, but saw a decrease to Rs 402 per sq.ft in 2017. Following this, the value surged to Rs 600 per sq.ft in 2023 and reached Rs 660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 792%. It is important to note that there are no figures available for the year 2002 in the register for this street.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value of V.P. Chinthan Street is below this median.

• V.O.C. Street: Rs 770 per sq.ft (2024)
• Vivakanandar Street: Rs 770 per sq.ft (2024)
• Zakir Hussain Street: Rs 770 per sq.ft (2024)
• Videsh Sanchar Nigam Employees Co-Operative Society: Rs 2,500 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in V.P. Chinthan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. It is important 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 V.P. Chinthan Street?

The V.P. Chinthan Street falls under the jurisdiction of the Redhills Sub Registrar Office. The address is Sub Registrar Office, Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Padiyanallur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of V.P. Chinthan Street?

The current guideline value of V.P. Chinthan Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 74 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 792% over the years.

What is the median guideline value for streets in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, while V.P. Chinthan Street's value is below this median.

What are the stamp duty and registration fees for properties in V.P. Chinthan Street?

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400.

Which office handles registrations for V.P. Chinthan Street?

The Redhills Sub Registrar Office handles registrations for V.P. Chinthan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.