Guideline Value for VANNIYAR PETTAI NARAYANAN STREET

Vanniyar Pettai Narayanan Street guideline value

The current guideline value of Vanniyar Pettai Narayanan Street is Rs 1,110 per sq.ft, effective from 1 July 2024. This street is located in Mathuranthagam village, under the Madurandakam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vanniyar Pettai Narayanan Street has changed

The guideline value for Vanniyar Pettai Narayanan Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 175 per sq.ft. This value saw a significant increase to Rs 1,000 per sq.ft in 2012, marking a rise of 471%. However, by 2017, the value dropped to Rs 670 per sq.ft, which was a decrease of 33%. The value then increased again to Rs 1,000 per sq.ft in 2023, followed by a further increase to the current value of Rs 1,110 per sq.ft in 2024, representing an 11% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 534%. The register does not contain figures for the years 2002 and 2003 for this street.

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 Narayanan Street's guideline value of Rs 1,110 per sq.ft is above this median.

• Vanniyar Pettai Kamban Street: Rs 555 per sq.ft (2024)
• Vanniyar Pettai Otthavaadai Street: Rs 1,110 per sq.ft (2024)
• Vanniayar Pettai Bhagavath Singh 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 Narayanan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, making the total cost for these fees Rs 99,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vanniyar Pettai Narayanan Street?

The Vanniyar Pettai Narayanan Street falls under the jurisdiction of 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 the registration process when buying or selling property in Mathuranthagam. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the buyer and seller must declare the sale price, and the registration office will compare this with the guideline value. The higher of the two will be used to calculate the applicable stamp duty and registration fees, ensuring that transactions are conducted fairly and transparently.

Frequently asked questions

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

The current guideline value of Vanniyar Pettai Narayanan Street is Rs 1,110 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 1,110 per sq.ft in 2024, with various revisions in between. The most notable increase occurred from 2012 to 2017, followed by a rise from 2023 to 2024.

What is the registration office for Vanniyar Pettai Narayanan Street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 11,10,000, the stamp duty would be 7% of this amount.

What other streets have similar guideline values in Mathuranthagam?

Other streets in Mathuranthagam with similar guideline values include Vanniyar Pettai Otthavaadai Street, Vanniayar Pettai Bhagavath Singh Street, and Vannia Mettu Street, all at Rs 1,110 per sq.ft. There are also streets like Vanniyar Pettai Kamban Street and Vedhachalam Nagar with lower values.