Guideline Value for VEMBULI NAYACKAR 1ST CROSS STREET

Vembuli Nayackar 1st Cross Street guideline value

The current guideline value of Vembuli Nayackar 1st Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vembuli Nayackar 1st Cross Street has changed

The guideline value for Vembuli Nayackar 1st Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,660 per sq.ft, which reflects an increase from Rs 1,500 per sq.ft in 2023, marking an 11% rise. Prior to that, the 2017 revision recorded a value of Rs 1,005 per sq.ft, which was a substantial increase of 49% from the 2012 figure of Rs 1,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has increased by 11%. The consistent revisions reflect adjustments in the property market and land valuation in the area.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, and Vembuli Nayackar 1st Cross Street's 2024 figure aligns with this median.

• Vembuli Naicker Street: Rs 1,660 per sq.ft (2024)
• Vembuli Nayackar 2nd Cross Street: Rs 1,660 per sq.ft (2024)
• Vellammal Palli Street: Rs 1,660 per sq.ft (2024)
• Vanagaram Seik Manyam: Rs 1,320 per sq.ft (2024)
• Valliyammal Nagar: Rs 1,100 per sq.ft (2024)
• Vallalar Nagar 1st Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vembuli Nayackar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,660 per sq.ft, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, while the registration fee at 2% would be Rs 33,200. Together, the total cost for these fees would be Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuli Nayackar 1st Cross Street?

The Vembuli Nayackar 1st Cross Street is covered by 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 Vanagaram

The guideline value plays a crucial role in the registration process of property transactions in Vanagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable fees, which are based on the higher of the guideline value or the actual sale price. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value for Vembuli Nayackar 1st Cross Street?

The current guideline value for Vembuli Nayackar 1st Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,660 per sq.ft in 2024, an increase of 11%. It was Rs 1,005 per sq.ft in 2017, which was a 49% increase from Rs 1,500 per sq.ft in 2012.

What is the registration office for Vembuli Nayackar 1st Cross Street?

The registration office for Vembuli Nayackar 1st Cross 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 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 16,60,000, the stamp duty would be Rs 1,16,200 at a rate of 7%.

What are the other streets in Vanagaram with the same guideline value?

Other streets in Vanagaram with the same guideline value of Rs 1,660 per sq.ft include Vembuli Naicker Street and Vembuli Nayackar 2nd Cross Street, among others.