Guideline Value for VANNAI PANDIAN STREET

Vannai Pandian Street guideline value

The current guideline value of Vannai Pandian Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vannai Pandian Street has changed

The guideline value for Vannai Pandian Street has seen several revisions over the years. The earliest figure recorded is from 2002, with a value of Rs 353 per sq.ft. This increased to Rs 387 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 500 per sq.ft in 2007, reflecting a 29% increase. In 2012, the guideline value was Rs 2,000 per sq.ft, which was a substantial 300% increase from the previous revision. However, this figure dropped to Rs 1,340 per sq.ft in 2017, representing a 33% decrease. The value then rose to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 523%. There are no figures for the revisions in years other than those specified.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Vannai Pandian Street's current value below this median.

• Vannan Medu 1st Street: Rs 2,200 per sq.ft (2024)
• Vannan Medu 2nd Street: Rs 2,200 per sq.ft (2024)
• Varadappan Street: Rs 1,600 per sq.ft (2024)
• Vasan Street: Rs 3,800 per sq.ft (2024)
• Vasantham Garden East Avenue: Rs 4,300 per sq.ft (2024)
• Vasugi Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vannai Pandian Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vannai Pandian Street?

The Sub Registrar Office that covers Vannai Pandian Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Perambur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, it is essential to ensure that the transaction reflects the current guideline value. This helps in maintaining transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vannai Pandian Street?

The current guideline value of Vannai Pandian Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 353 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 523% over the years.

What is the land classification for Vannai Pandian Street?

Vannai Pandian Street is classified as Residential Class IV Type - I.

Where is the Sub Registrar Office for Vannai Pandian Street located?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for property in Vannai Pandian Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,54,000.