Guideline Value for VEMBULI NAYACKAR 2ND CROSS STREET

Vembuli Nayackar 2nd Cross Street guideline value

The current guideline value of Vembuli Nayackar 2nd Cross Street is Rs 1,660 per sq.ft, effective from 1 July 2024. This street is located in Vanagaram village, under the Chennai South Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vembuli Nayackar 2nd Cross Street has changed

Over the years, the guideline value of Vembuli Nayackar 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,005 per sq.ft. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,660 per sq.ft, marking an increase of 11% from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vanagaram

In Vanagaram, there are 287 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 5,500 per sq.ft. The median value is Rs 1,660 per sq.ft, which is equal to the current guideline value of Vembuli Nayackar 2nd Cross Street.

• Vembuli Nayackar 1st Cross Street: Rs 1,660 per sq.ft (2024)
• Vembuli Naicker 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 16,60,000. The stamp duty at 7% would amount to Rs 1,16,200, and the registration fee at 2% would be Rs 33,200, bringing the total fees to Rs 1,49,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vembuli Nayackar 2nd Cross Street?

The Vembuli Nayackar 2nd Cross Street falls under 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 details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vanagaram. It serves as a reference point for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the authorities.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Vembuli Nayackar 2nd Cross Street?

The current guideline value of Vembuli Nayackar 2nd 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, which is an increase of 11%. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Vembuli Nayackar 2nd Cross Street?

Vembuli Nayackar 2nd Cross Street is classified as Residential Class III Type - I. This classification indicates the type of development allowed in the area.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 16,60,000, the stamp duty would be Rs 1,16,200, and the registration fee would be Rs 33,200, totaling Rs 1,49,400. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Vembuli Nayackar 2nd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details online.