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 Peramanoor 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

The guideline value for Vanchinathan Street has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, reflecting a -33% change. The next revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, followed by a further increase to Rs 1,320 per sq.ft in 2024, marking a 10% rise.

In summary, the guideline value has changed as follows: from Rs 804 in 2017 to Rs 1,200 in 2023, a 49% increase, and then to Rs 1,320 in 2024, a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Vanchinathan Street's 2024 figure 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 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 fees together 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 more detailed calculations.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately for taxation and legal purposes.

During the registration process, 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 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 increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Vanchinathan Street?

The land classification for Vanchinathan Street (Ward -8) is Residential Special Type - V.

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

The Sub Registrar Office for Vanchinathan Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated in Peramanoor?

Stamp duty and registration fees in Peramanoor are calculated based on the higher of the guideline value or the sale price of the property. The current rates are 7% for stamp duty and 2% for registration fees.