Guideline Value for V.P.SINDHAN STREET

V.P.Sindhan Street guideline value

The current guideline value of V.P.Sindhan Street in Vengathur village is Rs 800 per sq.ft, effective from the 2024 revision. This street falls under the jurisdiction of the Manavalanagar SRO and is classified as Residential Class I Type - II.

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

Over the years, the guideline value of V.P.Sindhan Street has seen several revisions. The 2007 revision recorded a value of Rs 125 per sq.ft, which increased significantly to Rs 800 per sq.ft in the 2012 revision, marking a rise of 540%. However, in the 2017 revision, the value decreased to Rs 536 per sq.ft, reflecting a decline of 33%. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 800 per sq.ft, showing no change between these two years.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 540%.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for V.P.Sindhan Street is below this median.

• Vivekanander Street: Rs 800 per sq.ft (2024)
• Viswanathan Street: Rs 800 per sq.ft (2024)
• VINAYAKAR STREET (a) PILLAIYAR STREET(MANAVALANAGAR MAIN): Rs 2,000 per sq.ft (2024)
• Vinayakar Koil Street (Ondikuppam): Rs 1,000 per sq.ft (2024)
• Velunachiyar Street: Rs 1,300 per sq.ft (2024)
• Velayutha Reddy Street: Rs 1,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000. The stamp duty at 7% would amount to Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total charges to Rs 72,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers V.P.Sindhan Street?

The Sub Registrar Office that covers V.P.Sindhan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Vengathur. It is used to determine the stamp duty and registration fees applicable when buying or selling property, ensuring that the transaction adheres to the legal requirements set by the state.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.P.Sindhan Street is Rs 800 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, then decreased to Rs 536 per sq.ft in 2017, and has remained at Rs 800 per sq.ft in both 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with V.P.Sindhan Street's value being below this median.

What are the stamp duty rates applicable?

The stamp duty for property transactions in V.P.Sindhan Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.P.Sindhan Street?

The Sub Registrar Office for V.P.Sindhan Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.