Guideline Value for VAANIAR METTU STREET 3RD STREET

Vaaniar Mettu Street 3rd Street guideline value

The current guideline value of Vaaniar Mettu Street 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vaaniar Mettu Street 3rd Street has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure was then reduced to Rs 1,340 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the guideline value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and further rose to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value increased by 10%. The change from 2017 to 2023 was a notable increase of 49%, while the change from 2023 to 2024 was a 10% increase. The current guideline value of Rs 2,200 per sq.ft is now equal to the median value of other streets in Iyyappanthangal.

Guideline values in Iyyappanthangal

Iyyappanthangal has a total of 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is the same as the current value for Vaaniar Mettu Street 3rd Street.

• Vaaniar Mettu Street 2nd Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Cross Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Ist Street: Rs 2,200 per sq.ft (2024)
• Vanniyar Street: Rs 2,200 per sq.ft (2024)
• Vasantham Nagar: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vaaniar Mettu Street 3rd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% amounts to Rs 1,54,000, while the registration fee at 2% is Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that 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 Vaaniar Mettu Street 3rd Street?

The Vaaniar Mettu Street 3rd Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

When buying or selling property in Iyyappanthangal, the guideline value is used to determine the stamp duty and registration fees. This value is crucial as it serves as a benchmark for the transaction, ensuring that the taxes are calculated fairly based on the property's worth.

At the time of registration, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vaaniar Mettu Street 3rd Street?

The current guideline value of Vaaniar Mettu Street 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Iyyappanthangal?

The median guideline value in Iyyappanthangal is Rs 2,200 per sq.ft, which is the same as the current value for Vaaniar Mettu Street 3rd Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Where can I find the Sub Registrar Office for Vaaniar Mettu Street 3rd Street?

The Sub Registrar Office covering Vaaniar Mettu Street 3rd Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.