Guideline Value for Vanchinathan Street

Vanchinathan Street guideline value

The current guideline value of Vanchinathan Street in Padiyanallur village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class II Type - I.

How the guideline value of Vanchinathan Street has changed

The guideline value for Vanchinathan Street has seen several revisions over the years. In 2003, the value was Rs 74 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2007. The value then rose to Rs 600 per sq.ft in 2012, before dropping to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 600 per sq.ft, and the most recent revision in 2024 increased it to Rs 660 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 792%. The register has no figure for the year 2002 for this street.

Guideline values in Padiyanallur

Padiyanallur has a total of 132 streets under the Redhills SRO, with 2024 guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value in this village is Rs 770 per sq.ft, indicating that Vanchinathan Street's 2024 figure is below this median.

• Vallalar Street: Rs 770 per sq.ft (2024)
• Vadivel Nagar: Rs 1,320 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Thiyagaraya Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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 Street?

The Sub Registrar Office that covers Vanchinathan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Padiyanallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Vanchinathan Street?

The current guideline value of Vanchinathan Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 74 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, representing an overall increase of 792% over this period.

What is the median guideline value in Padiyanallur?

The median guideline value in Padiyanallur is Rs 770 per sq.ft, which is higher than the current value of Vanchinathan Street.

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

For a 1,000 sq.ft property at the guideline value of Rs 660 per sq.ft, the total guideline value is Rs 6,60,000, with stamp duty at Rs 46,200 and registration fees at Rs 13,200, totaling Rs 59,400.

Which office handles property registration for Vanchinathan Street?

The Redhills Sub Registrar Office handles property registration for Vanchinathan Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.