Guideline Value for VANNIYAR PETTAI KAMBAN STREET

Vanniyar Pettai Kamban Street guideline value

The current guideline value of Vanniyar Pettai Kamban Street is Rs 555 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Class I Type - I.

How the guideline value of Vanniyar Pettai Kamban Street has changed

Over the years, the guideline value for Vanniyar Pettai Kamban Street has seen several revisions. The 2007 revision set the value at Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, in 2017, it decreased to Rs 335 per sq.ft. The 2023 revision marked a rise to Rs 500 per sq.ft, and the most recent 2024 revision raised it further to Rs 555 per sq.ft. The register has no figures for the years 2002 and 2003.

Notably, the changes in guideline value from one revision to the next have varied. From 2007 to 2012, there was an increase of 186%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was an 11% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 217%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft, with a median value of Rs 1,100 per sq.ft. Vanniyar Pettai Kamban Street's 2024 figure of Rs 555 per sq.ft is below this median.

• Vanniayar Pettai Bhagavath Singh Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Narayanan Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Otthavaadai Street: Rs 1,110 per sq.ft (2024)
• Vannia Mettu Street: Rs 1,110 per sq.ft (2024)
• Vedhachalam Nagar: Rs 555 per sq.ft (2024)
• Vadarayan Street: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniyar Pettai Kamban Street

For a 1,000 sq.ft plot at the current guideline value of Rs 555 per sq.ft, the total guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, together totaling Rs 49,950. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanniyar Pettai Kamban Street?

The Vanniyar Pettai Kamban Street is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This ensures that the government receives the appropriate revenue from property transactions.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vanniyar Pettai Kamban Street?

The current guideline value of Vanniyar Pettai Kamban Street is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 175 per sq.ft in 2007 to Rs 555 per sq.ft in 2024, reflecting an overall increase of 217% over the years.

What is the land classification for Vanniyar Pettai Kamban Street?

Vanniyar Pettai Kamban Street is classified as Residential Class I Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for this street?

The Madurandakam Sub Registrar Office covers Vanniyar Pettai Kamban Street, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mathuranthagam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the government receives appropriate revenue from property transactions.