Guideline Value for Vanchinathan 2nd Lane

Vanchinathan 2nd Lane guideline value

The current guideline value of Vanchinathan 2nd Lane is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam SRO, classified as Residential Class IV Type - I.

How the guideline value of Vanchinathan 2nd Lane has changed

The guideline value for Vanchinathan 2nd Lane has seen several revisions over the years. In 2002, the value was Rs 357 per sq.ft, which increased to Rs 392 per sq.ft in 2003, marking a 10% rise. The value then rose significantly by 155% to Rs 1,000 per sq.ft in 2007. In 2012, the value was Rs 1,500 per sq.ft, showing a 50% increase from the previous revision. However, in 2017, it decreased by 33% to Rs 1,005 per sq.ft. The value then increased by 49% to Rs 1,500 per sq.ft in 2023, and finally, it rose by 7% to the current value of Rs 1,600 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 348%. There are no figures available for the revisions in years not listed for this street.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Vanchinathan 2nd Lane is below this median.

• Vanchinathan 1st Street: Rs 1,900 per sq.ft (2024)
• Vanchinathan 2nd Street: Rs 1,900 per sq.ft (2024)
• Vanchinathan 1st Lane: Rs 1,600 per sq.ft (2024)
• Vanchinathan 3rd Street: Rs 1,900 per sq.ft (2024)
• Vanchinathan 4th Street: Rs 1,900 per sq.ft (2024)
• Vanchinathan Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vanchinathan 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanchinathan 2nd Lane?

The Sub Registrar Office that covers Vanchinathan 2nd Lane is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Siruvallur. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly influences the costs associated with the transaction. This ensures that both buyers and sellers are informed about the financial implications of the registration process.

Frequently asked questions

What is the current guideline value of Vanchinathan 2nd Lane?

The current guideline value of Vanchinathan 2nd Lane is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 357 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 348% over the years.

What are the stamp duty and registration fees for properties in Vanchinathan 2nd Lane?

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,44,000, based on the guideline value of Rs 16,00,000.

Which Sub Registrar Office handles registrations for Vanchinathan 2nd Lane?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Vanchinathan 2nd Lane.

How is the guideline value used in property transactions?

The guideline value is used as a basis for calculating stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand how this value impacts the overall costs of registration.