Guideline Value for VANNIER ST

Vannier St guideline value

The current guideline value of Vannier St in Srikaligapuram village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Vannier St has changed

The guideline value for Vannier St has seen several revisions over the years. In the 2007 revision, the value was Rs 40 per sq.ft, which increased to Rs 75 per sq.ft in 2012. The 2017 revision marked a significant increase to Rs 50 per sq.ft, followed by a further rise to Rs 150 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2012, the guideline value increased by 88%, then decreased by 33% from 2012 to 2017. The value surged by 200% from 2017 to 2023, and there was no change from 2023 to 2024, resulting in an overall increase of 275% from 2007 to 2024.

Guideline values in Srikaligapuram

In Srikaligapuram, there are 17 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 150 per sq.ft, with the median also at Rs 150 per sq.ft. Vannier St's 2024 figure matches this median.

• Thiruvalluvar St: Rs 150 per sq.ft (2024)
• Tank St: Rs 150 per sq.ft (2024)
• Solingar Raod St: Rs 150 per sq.ft (2024)
• Small St: Rs 150 per sq.ft (2024)
• Santhu St: Rs 150 per sq.ft (2024)
• Road St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vannier St

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. 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 detailed calculations.

Which Sub Registrar Office covers Vannier St?

The Sub Registrar Office that covers Vannier St 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 Srikaligapuram

The guideline value is a crucial factor in property transactions in Srikaligapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

During the registration process, the guideline value helps in calculating the applicable stamp duty and registration fees. The fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Vannier St?

The current guideline value for Vannier St is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, with significant increases in 2017 and 2023.

What is the land classification for Vannier St?

Vannier St is classified as Residential Class I Type - I under the local land classification system.

Where can I find the Sub Registrar Office for Vannier St?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 150 per sq.ft has a total guideline value of Rs 1,50,000, leading to specific fees based on this value.