Guideline Value for VATHIYAR MANICKAM STREET

Vathiyar Manickam Street guideline value

The current guideline value of Vathiyar Manickam Street is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Vathiyar Manickam Street has changed

In the 2012 revision, the guideline value was Rs 3,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it stayed at Rs 3,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,520 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has risen by 10%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for Vathiyar Manickam Street. The 2024 revision reflects a significant change compared to the earlier figures, indicating a notable adjustment in the guideline value.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, positioning Vathiyar Manickam Street's 2024 figure above this median.

• Vasantham Nagar 2nd cross Street: Rs 3,300 per sq.ft (2024)
• Vasantham Nagar: Rs 3,300 per sq.ft (2024)
• Varadhan Nagar: Rs 3,850 per sq.ft (2024)
• Vanniyar Street: Rs 3,520 per sq.ft (2024)
• Velaudham Street: Rs 3,850 per sq.ft (2024)
• Velmurugan Colony: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vathiyar Manickam Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vathiyar Manickam Street?

The Sub Registrar Office that covers Vathiyar Manickam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vathiyar Manickam Street?

The current guideline value of Vathiyar Manickam Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

From the 2012 revision to the 2023 revision, the guideline value remained unchanged at Rs 3,200 per sq.ft. However, it increased to Rs 3,520 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

What is the land classification of Vathiyar Manickam Street?

Vathiyar Manickam Street is classified as Residential Class I Type - I, indicating its residential purpose within the local zoning regulations.

Where can I find the Sub Registrar Office for Vathiyar Manickam Street?

The Sub Registrar Office for Vathiyar Manickam Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vathiyar Manickam Street?

Stamp duty for properties in Vathiyar Manickam Street is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 3,16,800.