Guideline Value for Vanchinathan Street

Vanchinathan Street guideline value

The current guideline value of Vanchinathan Street is Rs 3,300 per sq.ft. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vanchinathan Street has changed

The guideline value for Vanchinathan Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, an increase of 10% from the 2023 revision of Rs 3,000 per sq.ft. Prior to that, in 2017, the value was Rs 2,010 per sq.ft, which means there was a significant increase of 49% leading up to the 2023 revision. The 2012 revision also recorded a value of Rs 3,000 per sq.ft, marking a decrease of 33% from the 2017 figure.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,725 per sq.ft, placing Vanchinathan Street’s 2024 figure above this median.

• Valmigi Street: Rs 3,300 per sq.ft (2024)
• Valar Garden: Rs 1,650 per sq.ft (2024)
• Vaidhiyalingam Salai: Rs 2,725 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Urban Tree Oxygen: Rs 1,175 per sq.ft (2024)
• V.G.P.Gokul Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vanchinathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty is calculated at 7%, resulting in Rs 2,31,000, while the registration fee at 2% amounts to Rs 66,000. The total cost for these fees combined is Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanchinathan Street?

The Sub Registrar Office covering Vanchinathan Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should consider this value alongside the sale price to understand their financial obligations during registration.

Frequently asked questions

What is the current guideline value of Vanchinathan Street?

The current guideline value of Vanchinathan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 10% from 2012 to 2024.

What is the median guideline value in Perumbakkam?

The median guideline value in Perumbakkam is Rs 2,725 per sq.ft, with Vanchinathan Street's current value being above this median.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is set at 2% of the same value.

Where is the Sub Registrar Office for Vanchinathan Street located?

The Sub Registrar Office for Vanchinathan Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.