Guideline Value for VANAGARAM SEIK MANYAM

Vanagaram Seik Manyam guideline value

The current guideline value of Vanagaram Seik Manyam is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - II.

How the guideline value of Vanagaram Seik Manyam has changed

The guideline value for Vanagaram Seik Manyam has undergone several revisions over the years. The earliest recorded revision was in 2002, with a value of Rs 94 per sq.ft. This increased to Rs 108 per sq.ft in 2003, marking a rise of 15%. Following this, there was a significant increase to Rs 500 per sq.ft in 2007, which represented a 363% change. The value then rose to Rs 1,200 per sq.ft in 2012, reflecting a 140% increase. However, the value decreased to Rs 804 per sq.ft in 2017, resulting in a decline of 33%. The most recent revisions show an increase to Rs 1,200 per sq.ft in 2023, followed by the current guideline value of Rs 1,320 per sq.ft in 2024, which is a 10% increase.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1,304%. There are no recorded figures for any other years for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value for these streets is Rs 1,660 per sq.ft, indicating that the guideline value for Vanagaram Seik Manyam is below this median.

• Valliyammal Nagar: Rs 1,100 per sq.ft (2024)
• Vallalar Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Vallalar Nagar: Rs 1,100 per sq.ft (2024)
• Vellammal Palli Street: Rs 1,660 per sq.ft (2024)
• Vembuli Naicker Street: Rs 1,660 per sq.ft (2024)
• Vembuli Nayackar 1st Cross Street: Rs 1,660 per sq.ft (2024)

Stamp duty and registration fee for property in Vanagaram Seik Manyam

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total 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.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vanagaram Seik Manyam?

Vanagaram Seik Manyam is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commerrcial 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 Vanagaram

The guideline value is a crucial factor in the registration of property transactions in Vanagaram Seik Manyam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that all fees are calculated accurately based on the guideline value can help in avoiding any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Vanagaram Seik Manyam?

The current guideline value of Vanagaram Seik Manyam 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 significantly, increasing from Rs 94 in 2002 to Rs 1,320 in 2024, which is an overall increase of 1,304%.

What are the other streets in Vanagaram and their guideline values?

Other streets in Vanagaram include Valliyammal Nagar, Vallalar Nagar 1st Street, Vallalar Nagar, Vellammal Palli Street, Vembuli Naicker Street, and Vembuli Nayackar 1st Cross Street, with values ranging from Rs 1,100 to Rs 1,660 per sq.ft in 2024.

How is stamp duty calculated in Vanagaram Seik Manyam?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty at 7% would be Rs 92,400.

Which office handles registrations in Vanagaram Seik Manyam?

The Chennai South Joint I Sub Registrar Office handles registrations for Vanagaram Seik Manyam, located at Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.