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, effective from 1 July 2024. This street is located in Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - III.

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

The guideline value for Vethanayagam Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 1,600 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, from the 2012 revision to the current 2024 figure, there has been a net increase of 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Vethanayagam Street's 2024 figure above this median.

• Venkateswaran Nagar (Per): Rs 661 per sq.ft (2024)
• Vgn Southern Colony (Kr): Rs 1,980 per sq.ft (2024)
• Venkatesapuram Colony (Kr): Rs 661 per sq.ft (2024)
• Vignesh Garden: Rs 990 per sq.ft (2024)
• Vel 's Doctrs Metro Polis: Rs 1,980 per sq.ft (2024)
• Vignesh Nagar (N): Rs 661 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, charged at 7%, would be Rs 1,23,200, and the registration fee, charged at 2%, would be Rs 35,200, bringing the total fees to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our 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 Peramanoor

When buying or selling property in Peramanoor, the guideline value is a crucial factor in the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

During registration, the guideline value is compared with the sale price of the property. The higher value is used to calculate the stamp duty and registration fees, which are mandatory for completing the property transaction legally.

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, effective from 1 July 2024.

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 back to Rs 1,600 in 2023, and finally to Rs 1,760 in 2024. This reflects various increases and decreases over the years.

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

Vethanayagam Street(Ward -8) is classified as Residential Special Type - III under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for a property in Vethanayagam Street(Ward -8)?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Where can I find the Sub Registrar Office for Vethanayagam Street(Ward -8)?

The Sub Registrar Office for Vethanayagam Street(Ward -8) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.