Guideline Value for Vanchinathan Street

Vanchinathan Street guideline value

The current guideline value of Vanchinathan Street is Rs 3,850 per sq.ft. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vanchinathan Street has changed

The guideline value for Vanchinathan Street has seen significant changes over the years. In the 2012 revision, the value was set at Rs 3,500 per sq.ft, which later decreased to Rs 2,345 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to 2023, the value increased by 49%, bringing it back to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

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 Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value is Rs 3,100 per sq.ft, placing Vanchinathan Street's 2024 figure above this median.

• Valluvar Salai: Rs 5,500 per sq.ft (2024)
• Veerabhadran Naiken Street: Rs 2,750 per sq.ft (2024)
• Umargayam Street: Rs 1,950 per sq.ft (2024)
• Umadevai Street: Rs 1,950 per sq.ft (2024)
• Ulagathamman Koil Street: Rs 1,950 per sq.ft (2024)
• Udayar Street: Rs 1,950 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 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost together to Rs 3,46,500. 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 more details.

Which Sub Registrar Office covers Vanchinathan Street?

The Sub Registrar Office that covers Vanchinathan Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value is used to calculate the necessary fees, ensuring that the transaction is officially recorded. This process helps maintain transparency and legality in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vanchinathan Street?

The current guideline value of Vanchinathan Street is Rs 3,850 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then back to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Vanchinathan Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Vanchinathan Street?

The Chennai South Joint II Sub Registrar Office covers Vanchinathan Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Vanchinathan Street?

Vanchinathan Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.