Guideline Value for VETHANAYAGAM STREET(WARD -8)

Vethanayagam Street(Ward -8) guideline value

The current guideline value of Vethanayagam Street(Ward -8) is Rs 1,760 per sq.ft. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Vethanayagam Street(Ward -8) has changed

The guideline value for Vethanayagam Street(Ward -8) has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017. However, the guideline value saw a significant increase to Rs 1,600 per sq.ft in 2023, and it further rose to Rs 1,760 per sq.ft in the latest 2024 revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, there was a 33% decrease from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The guideline value increased by 10% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Vethanayagam Street(Ward -8) above this median.

• Venkateswaran Nagar (Per): Rs 660 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 660 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vignesh Nagar (N): Rs 660 per sq.ft (2024)
• Vellivithaiar Street (Ward -6): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vethanayagam Street(Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total cost for these fees to Rs 1,58,400. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vethanayagam Street(Ward -8)?

The Sub Registrar Office that covers Vethanayagam Street(Ward -8) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor during the registration process of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Vethanayagam Street(Ward -8)?

The current guideline value of Vethanayagam Street(Ward -8) is Rs 1,760 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Vethanayagam Street(Ward -8)?

The land classification for Vethanayagam Street(Ward -8) is Residential Special Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property with a guideline value of Rs 17,60,000, the stamp duty at 7% would be Rs 1,23,200.