Guideline Value for VAANAVARAMBAN STREET (WARD -4)

Vaanavaramban Street (Ward -4) guideline value

The current guideline value of Vaanavaramban Street (Ward -4) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

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

Over the years, the guideline value for Vaanavaramban Street has seen several revisions. 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. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,320 per sq.ft, reflecting a 10% change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are a total of 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 990 per sq.ft, placing Vaanavaramban Street's 2024 figure above that median.

• Vaamana Munivar Street (Ward -4): Rs 1,320 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 1,320 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Panangottur, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the guideline value helps establish a fair assessment of the property's worth, facilitating a transparent transaction process. It is essential for both parties to understand these values to avoid any discrepancies during the registration process.

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 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking a 10% increase. It was Rs 804 per sq.ft in 2017, which was a significant increase from Rs 1,200 per sq.ft in 2012.

What is the classification of land on Vaanavaramban Street?

Vaanavaramban Street is classified as Residential Special Type - V, indicating its zoning for residential purposes within the area.

What are the stamp duty and registration fees for properties in Vaanavaramban Street?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value, which is Rs 1,320 per sq.ft. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

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

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