Guideline Value for VAANIAR METTU STREET CROSS STREET

Vaaniar Mettu Street Cross Street guideline value

The current guideline value of Vaaniar Mettu Street Cross 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 Cross Street has changed

Over the years, the guideline value for Vaaniar Mettu Street Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase.

In summary, from 2012 to 2024, the overall change in guideline value is an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Iyyappanthangal

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

• Vaaniar Mettu Street 3rd Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Ist Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street 2nd 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 Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaaniar Mettu Street Cross Street?

The Vaaniar Mettu Street Cross 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

The guideline value is a critical factor during the registration of property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal value of the property. This value is essential for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vaaniar Mettu Street Cross Street?

The current guideline value of Vaaniar Mettu Street Cross 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 changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, representing a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing an overall increase of 10% from 2012 to 2024.

What is the stamp duty for properties in this area?

The stamp duty for properties in Vaaniar Mettu Street Cross Street is 7% of the guideline value or sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty would amount to Rs 1,54,000.

Which office handles registrations for Vaaniar Mettu Street Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Vaaniar Mettu Street Cross Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Vaaniar Mettu Street Cross Street?

The land classification for Vaaniar Mettu Street Cross Street is Residential Class II Type - I, indicating its suitability for residential development.