Guideline Value for VAAMANA MUNIVAR STREET (WARD -4)

Vaamana Munivar Street (Ward -4) guideline value

The current guideline value of Vaamana Munivar Street (Ward -4) is Rs 1,321 per sq.ft. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Vaamana Munivar Street (Ward -4) has changed

Over the years, the guideline value of Vaamana Munivar Street has undergone several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a significant drop to Rs 804 per sq.ft, a decrease of 33%. In 2023, the value increased to Rs 1,200 per sq.ft again, and the latest 2024 revision has set the guideline value at Rs 1,321 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, when comparing the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vaamana Munivar Street's 2024 figure above this median.

• Vaanavaramban Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Unity Colony (Kr): Rs 990 per sq.ft (2024)
• Union Salai, Peramnur (Ward -15): Rs 440 per sq.ft (2024)
• Umarupulavar Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Valamana Munivar Street (Kr): Rs 660 per sq.ft (2024)
• Udaiyar Street (Ward -18): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vaamana Munivar Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. 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 Vaamana Munivar Street (Ward -4)?

The Sub Registrar Office that covers Vaamana Munivar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Ninna Karai. It is used as a benchmark for calculating the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This means buyers should be aware of the guideline value to understand their financial obligations better.

Frequently asked questions

What is the current guideline value of Vaamana Munivar Street (Ward -4)?

The current guideline value of Vaamana Munivar Street (Ward -4) is Rs 1,321 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Vaamana Munivar Street?

The land classification for Vaamana Munivar Street (Ward -4) is Residential Special Type - V.

Where can I find the Sub Registrar Office for Vaamana Munivar Street?

The Sub Registrar Office for Vaamana Munivar Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 at a rate of 7%.