Guideline Value for VANNIAR 2nd STREET

VANNIAR 2nd STREET guideline value

The current guideline value of VANNIAR 2nd STREET is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of VANNIAR 2nd STREET has changed

Looking at the revisions, the guideline value for VANNIAR 2nd STREET has seen significant changes over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 2,300 per sq.ft in 2012. This was a substantial rise of 283%. The value remained unchanged at Rs 2,300 per sq.ft until the next revision in 2023, where it increased to Rs 2,500 per sq.ft, reflecting a change of 9%.

From the 2007 revision to the current 2024 revision, the overall increase in guideline value is 317%, bringing it to Rs 2,500 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which matches the current guideline value of VANNIAR 2nd STREET.

• VANNIAR 1st STREET: Rs 2,500 per sq.ft (2024)
• VANNIAR 1st SOUTH STREET: Rs 2,500 per sq.ft (2024)
• Vanchi Nagar Extension: Rs 2,100 per sq.ft (2024)
• Vanchi Nagar: Rs 2,100 per sq.ft (2024)
• Vanasakthi Nagar Phase V: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase IV: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in VANNIAR 2nd STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, summing up to a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VANNIAR 2nd STREET?

The Sub Registrar Office that covers VANNIAR 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Korattur. It serves as the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transfers.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. It is crucial for buyers and sellers to be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of VANNIAR 2nd STREET?

The current guideline value of VANNIAR 2nd STREET is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2024, marking an overall increase of 317%.

What are the stamp duty and registration fees for a property in VANNIAR 2nd STREET?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers VANNIAR 2nd STREET?

The Villivakkam Sub Registrar Office covers VANNIAR 2nd STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for VANNIAR 2nd STREET?

The land classification for VANNIAR 2nd STREET is Residential Class II Type - III.