Guideline Value for VANAGARAM SALAI

Vanagaram Salai guideline value

The current guideline value of Vanagaram Salai is Rs 3,030 per sq.ft, effective from 1 July 2024. This street is located in Karambakkam village, under the Chennai South Joint I SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vanagaram Salai has changed

In the 2012 revision, the guideline value was set at Rs 2,750 per sq.ft. This figure remained the same until the 2017 revision, where it decreased to Rs 1,842 per sq.ft. Following this, the value increased significantly to Rs 2,750 per sq.ft in the 2023 revision, and then rose again to Rs 3,030 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The 2023 to 2024 revision saw a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Karambakkam

In Karambakkam, there are 159 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft. The median value is Rs 1,930 per sq.ft, placing the 2024 guideline value of Vanagaram Salai above this median.

• Venkateswara Road: Rs 2,480 per sq.ft (2024)
• Thiru VI Ka Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 3rd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 2nd Street: Rs 1,650 per sq.ft (2024)
• Thiruvenkadam 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vanagaram Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,030 per sq.ft, the total guideline value amounts to Rs 30,30,000. The stamp duty at 7% would be Rs 2,12,100, and the registration fee at 2% would be Rs 60,600, bringing the total to Rs 2,72,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vanagaram Salai?

The Sub Registrar Office that covers Vanagaram Salai is 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Karambakkam. It determines the minimum value at which a property can be registered, ensuring that all transactions are recorded fairly and transparently.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vanagaram Salai?

The current guideline value of Vanagaram Salai is Rs 3,030 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, with the most recent being an increase from Rs 2,750 per sq.ft in 2023 to Rs 3,030 per sq.ft in 2024.

What is the land classification for Vanagaram Salai?

Vanagaram Salai is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Vanagaram Salai?

The registration office for Vanagaram Salai is 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.

How is stamp duty calculated for properties in Vanagaram Salai?

Stamp duty for properties in Vanagaram Salai is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 30,30,000 would incur a stamp duty of Rs 2,12,100 at 7%.