Guideline Value for Vanchinathan 4th Street

Vanchinathan 4th Street guideline value

The current guideline value of Vanchinathan 4th 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 4th Street has changed

The guideline value for Vanchinathan 4th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,800 per sq.ft in 2012. However, this figure decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. The value then rose significantly to Rs 1,800 per sq.ft in 2023, and further increased by 6% to the current value of Rs 1,900 per sq.ft in 2024.

Overall, from 2007 to 2024, the guideline value has increased by 90%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Siruvallur

In Siruvallur, there are 86 streets under the Sembiam SRO, with guideline values ranging from Rs 1,600 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, which is equal to the current value of Vanchinathan 4th Street.

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

Stamp duty and registration fee for property in Vanchinathan 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanchinathan 4th Street?

The Sub Registrar Office that covers Vanchinathan 4th 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 is a crucial factor in property transactions in Siruvallur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling a property. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher amount is used for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vanchinathan 4th Street?

The current guideline value of Vanchinathan 4th Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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% during this period.

What is the median guideline value for streets in Siruvallur?

The median guideline value for streets in Siruvallur is Rs 1,900 per sq.ft, which is the same as the current guideline value for Vanchinathan 4th Street.

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

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for Vanchinathan 4th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles property registrations for Vanchinathan 4th Street.