Guideline Value for VANNARA STREET

Vannara Street guideline value

The current guideline value of Vannara Street in Beerakupam village is Rs 175 per sq.ft, effective from 1 July 2024. This property falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Vannara Street has changed

The guideline value for Vannara Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 75 per sq.ft, which increased significantly to Rs 175 per sq.ft in the 2012 revision. However, there was a decrease to Rs 117 per sq.ft in the 2017 revision. The value remained at Rs 175 per sq.ft in both the 2023 and 2024 revisions, with no figures available for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 50%, while from 2012 to 2017, it decreased by 33%. The overall change from 2007 to 2024 shows an increase of 133%. The current value of Rs 175 per sq.ft in 2024 is consistent with the 2023 revision, indicating stability in the recent years.

Guideline values in Beerakupam

In Beerakupam, there are 10 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 200 per sq.ft, with a median value of Rs 175 per sq.ft. Vannara Street's 2024 figure aligns with this median.

• Vaniyar Street: Rs 175 per sq.ft (2024)
• South Street: Rs 150 per sq.ft (2024)
• S.Agraharam New Road: Rs 150 per sq.ft (2024)
• Passukal Battai Street: Rs 150 per sq.ft (2024)
• Noochili Road: Rs 175 per sq.ft (2024)
• Navithar Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Vannara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty, calculated at 7%, would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total fees to Rs 15,750. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Vannara Street?

The Sub Registrar Office that covers Vannara Street is the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Beerakupam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's valuation, which is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Vannara Street?

The current guideline value of Vannara Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 175 per sq.ft in 2012, then decreased to Rs 117 per sq.ft in 2017, and has remained at Rs 175 per sq.ft in both 2023 and 2024.

What are the stamp duty rates for properties in Vannara Street?

The stamp duty for properties in Vannara Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vannara Street located?

The Sub Registrar Office for Vannara Street is located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating the stamp duty and registration fees during property transactions.