Guideline Value for Vanchinathan Main Road

Vanchinathan Main Road guideline value

The current guideline value of Vanchinathan Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Siruvallur village, under the Sembiam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Vanchinathan Main Road has changed

The guideline value for Vanchinathan Main Road has seen several revisions over the years. In the 2002 revision, the guideline value was Rs 357 per sq.ft. This increased to Rs 392 per sq.ft in 2003, marking a 10% rise. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, which was a 155% increase from the previous figure. The 2012 revision saw a slight drop to Rs 2,000 per sq.ft, a decrease of 33% from 2007.

In the 2017 revision, the guideline value increased to Rs 1,340 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2023 set the guideline value at Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 516%.

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 Main Road is above this median.

• Vanchinathan 4th Street: Rs 1,900 per sq.ft (2024)
• Vanchinathan 3rd Street: Rs 1,900 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your property details.

Which Sub Registrar Office covers Vanchinathan Main Road?

The Sub Registrar Office that covers Vanchinathan Main Road 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 in the registration process when buying or selling property in Siruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Vanchinathan Main Road?

The current guideline value for Vanchinathan Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 357 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 516% over the years.

What are the registration fees for properties on Vanchinathan Main Road?

The registration fees for properties on Vanchinathan Main Road include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Vanchinathan Main Road?

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

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, with Vanchinathan Main Road having a value above this median at Rs 2,200 per sq.ft.