Guideline Value for Vaniar Street

Vaniar Street guideline value

The current guideline value of Vaniar Street in Manancheri village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Vaniar Street has changed

The guideline value for Vaniar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 900 per sq.ft in the 2023 revision, and currently stands at Rs 990 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Manancheri

In Manancheri, there are 59 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 550 to Rs 3,400 per sq.ft. The median value for these streets is Rs 990 per sq.ft, which is equal to the current guideline value for Vaniar Street.

• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Vel Nagar: Rs 990 per sq.ft (2024)
• Vinayaga Avenue: Rs 990 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,320 per sq.ft (2024)
• Sri Vidhyalakshmi Avenue: Rs 990 per sq.ft (2024)
• Srimathi Neelambal Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. 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 detailed calculations.

Which Sub Registrar Office covers Vaniar Street?

The Sub Registrar Office that covers Vaniar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

When buying or selling property in Manancheri, the guideline value is a crucial factor during the registration process. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

Buyers and sellers should be aware that the guideline value may affect the overall cost of the transaction, as these fees are calculated based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Vaniar Street?

The current guideline value of Vaniar Street is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and is now Rs 990 per sq.ft in 2024.

What are the other streets in Manancheri with their guideline values?

Other streets in Manancheri include Vellalar Street at Rs 1,320 per sq.ft, Vel Nagar at Rs 990 per sq.ft, Vinayaga Avenue at Rs 990 per sq.ft, Thirumalai Nagar at Rs 1,320 per sq.ft, Sri Vidhyalakshmi Avenue at Rs 990 per sq.ft, and Srimathi Neelambal Nagar at Rs 990 per sq.ft.

What is the registration fee for property in Vaniar Street?

The registration fee for property in Vaniar Street is calculated based on the guideline value. For a property valued at Rs 9,90,000, the registration fee would be Rs 19,800 at a rate of 2%.

Where can I find the Sub Registrar Office for Vaniar Street?

The Sub Registrar Office for Vaniar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.