Guideline Value for VANCHINATHAN STREET (WARD -8)

Vanchinathan Street (Ward -8) guideline value

The current guideline value of Vanchinathan Street (Ward -8) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Vanchinathan Street (Ward -8) has changed

Over the years, the guideline value for Vanchinathan Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then revised to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and finally reached Rs 1,320 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The current guideline value reflects a 10% increase from the previous year, 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, positioning Vanchinathan Street's current value above this median.

• Valliammaiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Vallal Seethakathi Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Vallal Patchaiappar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Vallal Pari Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Vallal Ori Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Vallal Ori Cross Street (Ward -4): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vanchinathan Street (Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be 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 or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Vanchinathan Street (Ward -8)?

The Sub Registrar Office that covers Vanchinathan Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and accountability during the sale.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory payments that must be made to complete the transaction. This ensures that both parties are adhering to the legal requirements set forth by the registration department.

Frequently asked questions

What is the current guideline value of Vanchinathan Street (Ward -8)?

The current guideline value of Vanchinathan Street (Ward -8) 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 from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024. There are no figures available for the revisions in 2002, 2003, and 2007.

What is the land classification for Vanchinathan Street?

Vanchinathan Street is classified as Residential Special Type - V. This classification indicates the intended use of the land for residential purposes.

Where can I find the Sub Registrar Office for Vanchinathan Street?

The Sub Registrar Office for Vanchinathan Street is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vanchinathan Street?

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 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.