Guideline Value for VANIYAR STREET

Vaniyar Street guideline value

The current guideline value of Vaniyar Street in Kolathur village is Rs 104 per sq.ft, effective from 1 July 2024. This street falls under the Pallipattu SRO and is classified as Residential Class I Type - I.

How the guideline value of Vaniyar Street has changed

In the 2007 revision, the guideline value was Rs 25 per sq.ft. This increased significantly to Rs 80 per sq.ft in 2012, marking a 220% rise. However, in the 2017 revision, the value decreased to Rs 54 per sq.ft, a decline of 33%. The guideline value then saw a substantial increase to Rs 100 per sq.ft in the 2023 revision, representing an 85% rise. The latest revision in 2024 set the value at Rs 104 per sq.ft, reflecting a 4% increase from the previous year.

The register has no figures for Vaniyar Street in the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 316%.

Guideline values in Kolathur

In Kolathur, there are 18 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 104 to Rs 150 per sq.ft. The median value is Rs 104 per sq.ft, which is also the guideline value for Vaniyar Street.

• Vannara Street: Rs 104 per sq.ft (2024)
• Vanniyar Street: Rs 104 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 104 per sq.ft (2024)
• S.P Balu Gardens: Rs 150 per sq.ft (2024)
• Sorakayapet (Thoppu Street): Rs 104 per sq.ft (2024)
• Saliyar Street: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, bringing the total to Rs 9,360. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaniyar Street?

The Vaniyar Street is covered by the Pallipattu Sub Registrar Office located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as the baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the sale price or the guideline value, whichever is higher, is taken into account for the calculation of these fees. This ensures that the registration reflects the true value of the property transaction, safeguarding both the buyer and the seller's interests.

Frequently asked questions

What is the current guideline value of Vaniyar Street?

The current guideline value of Vaniyar Street is Rs 104 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 25 per sq.ft in 2007 to Rs 104 per sq.ft in 2024, marking a total increase of 316% over the years.

Which Sub Registrar Office covers Vaniyar Street?

The Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, covers Vaniyar Street.

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

For a 1,000 sq.ft plot at the guideline value of Rs 104 per sq.ft, the total guideline value is Rs 1,04,000. The stamp duty would be Rs 7,280, and the registration fee would be Rs 2,080, totaling Rs 9,360.

What is the land classification of Vaniyar Street?

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