Guideline Value for VAANAVARAMBAN STREET (WARD -4)

Vaanavaramban Street (Ward -4) guideline value

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

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

The guideline value for Vaanavaramban Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has further raised it to Rs 1,321 per sq.ft, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2024 revision, the overall change is an increase of 10%. Notably, the jump from 2017 to 2023 was significant, with a 49% increase. The changes reflect the evolving real estate landscape in the area.

Guideline values in Ninna Karai

Ninna Karai village features a range of guideline values across its 449 streets under the Chengleput Joint II SRO, with values ranging from Rs 440 to Rs 3,500 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Vaanavaramban Street's 2024 figure above this median.

• Vaamana Munivar 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)
• Valayapathi Street (Ward -8): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Vaanavaramban 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, bringing the total to Rs 1,18,890. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaanavaramban Street (Ward -4)?

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

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

The guideline value is a crucial factor in property transactions in Ninna Karai. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it affects the applicable stamp duty and registration fees.

During the registration process, the guideline value plays an essential role in calculating the financial obligations of the buyer. It ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as recognized by the registration department.

Frequently asked questions

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

The current guideline value of Vaanavaramban 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 changed 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 Vaanavaramban Street?

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

Where can I find the Sub Registrar Office for Vaanavaramban Street?

The Sub Registrar Office for Vaanavaramban Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated on properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft would incur a total guideline value of Rs 13,21,000.