Guideline Value for VANIYAR STREET

Vaniyar Street guideline value

The current guideline value of Vaniyar Street in Walajabad village, under the Walajabad SRO, is Rs 750 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Vaniyar Street has changed

The guideline value for Vaniyar Street has undergone several revisions over the years. The earliest record available is from 2007, where the guideline value was Rs 60 per sq.ft. This increased significantly to Rs 750 per sq.ft in 2012, marking a substantial rise of 1150%. However, in the subsequent revision of 2017, the value decreased to Rs 502 per sq.ft, reflecting a drop of 33%. The value remained the same at Rs 750 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Vaniyar Street. The overall change from the 2007 revision to the 2024 revision shows an increase of 1150%, highlighting the significant growth in the guideline value over the years.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft. Vaniyar Street's 2024 guideline value aligns with this median.

• Vanniyar Street: Rs 750 per sq.ft (2024)
• Varasakthi Vinayagar Kovil St: Rs 750 per sq.ft (2024)
• Valluvar Srteet: Rs 750 per sq.ft (2024)
• Vallappakkam Road: Rs 750 per sq.ft (2024)
• Vakkar St: Rs 750 per sq.ft (2024)
• Vaishnavi Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniyar Street

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total to Rs 67,500. 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 details.

Which Sub Registrar Office covers Vaniyar Street?

The Sub Registrar Office that covers Vaniyar Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vaniyar Street?

The current guideline value of Vaniyar Street is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 750 per sq.ft in 2012, then decreased to Rs 502 per sq.ft in 2017, and remained at Rs 750 per sq.ft in both 2023 and 2024.

What is the classification of Vaniyar Street?

Vaniyar Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in Vaniyar Street?

For a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 and the registration fee would be Rs 15,000, totaling Rs 67,500.

Which office handles registrations for Vaniyar Street?

The Walajabad Sub Registrar Office handles registrations for Vaniyar Street, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.