Guideline Value for Vanchinathan 2nd Street

Vanchinathan 2nd Street guideline value

The current guideline value of Vanchinathan 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Siruvallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vanchinathan 2nd Street has changed

The guideline value for Vanchinathan 2nd Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012, marking an 80% rise. However, the value then decreased to Rs 1,206 per sq.ft in 2017, reflecting a decline of 33%. The value saw significant growth from 2017 to 2023, with an increase of 49%, bringing it to Rs 1,800 per sq.ft. The latest revision in 2024 set the guideline value at Rs 1,900 per sq.ft, a rise of 6% from the previous year.

It is noteworthy that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 90%.

Guideline values in Siruvallur

In Siruvallur, 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. Vanchinathan 2nd Street's 2024 guideline value aligns with this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanchinathan 2nd Street?

The Sub Registrar Office that covers Vanchinathan 2nd Street 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 plays a crucial role when buying or selling property in Siruvallur. It is the benchmark used to determine the registration fees and stamp duty applicable during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

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

The current guideline value of Vanchinathan 2nd Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 90% over the years.

What is the land classification for Vanchinathan 2nd Street?

Vanchinathan 2nd Street is classified as Residential Class III Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Vanchinathan 2nd Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,33,000.