Guideline Value for VAMANAN AVENUE

Vamanan Avenue guideline value

The current guideline value of Vamanan Avenue is Rs 2,960 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Vamanan Avenue has changed

The guideline value for Vamanan Avenue has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 2,687 per sq.ft, and in the subsequent 2024 revision, it increased to Rs 2,960 per sq.ft, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for Vamanan Avenue in the earlier years mentioned. The most recent figure reflects a significant increase compared to the previous year's value.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Vamanan Avenue's 2024 figure above this median.

• VasanthamNagar: Rs 1,650 per sq.ft (2024)
• Vaidegi Nagar: Rs 1,100 per sq.ft (2024)
• Vasantham Nagar S.No.539/1: Rs 880 per sq.ft (2024)
• Vasantham Nagar S.Nos.539/1, 540/1a: Rs 880 per sq.ft (2024)
• Vadivel Nagar: Rs 1,650 per sq.ft (2024)
• Velankanni Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vamanan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,960 per sq.ft, the total guideline value amounts to Rs 29,60,000. The stamp duty at 7% would be Rs 2,07,200, and the registration fee at 2% would be Rs 59,200, totaling Rs 2,66,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vamanan Avenue?

The Sub Registrar Office that covers Vamanan Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vamanan Avenue?

The current guideline value of Vamanan Avenue is Rs 2,960 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value increased from Rs 2,687 per sq.ft in 2023 to Rs 2,960 per sq.ft in 2024, representing a change of +10%.

What is the classification of land on Vamanan Avenue?

Vamanan Avenue is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Vamanan Avenue?

The Sub Registrar Office for Vamanan Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Varadarajapuram?

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 29,60,000, the stamp duty would be Rs 2,07,200 at 7%.