Guideline Value for VANNIYAR STREET

Vanniyar Street guideline value

The current guideline value of Vanniyar Street in Iyyappanthangal village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Vanniyar Street has changed

In the 2012 revision, the guideline value for Vanniyar Street was set at Rs 2,000 per sq.ft. This figure then decreased to Rs 1,340 per sq.ft in the 2017 revision, representing a decline of 33%. The value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to the current value of Rs 2,200 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most substantial increase occurred between the 2017 and 2023 revisions, where the value rose by 49%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Vanniyar Street.

• Vasantham Nagar: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Vaaniar Mettu Street Ist Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Cross Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges to Rs 1,98,000. 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 Vanniyar Street?

The Sub Registrar Office that covers Vanniyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 2,000 per sq.ft in 2012, decreased to Rs 1,340 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Vanniyar Street?

Vanniyar Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vanniyar Street?

The Sub Registrar Office for Vanniyar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Vanniyar Street?

Stamp duty for properties in Vanniyar Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 1,54,000.