Guideline Value for Vanickar Street

Vanickar Street guideline value

The current guideline value of Vanickar Street in Ikkadu village is Rs 500 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Vanickar Street has changed

The guideline value for Vanickar Street has seen several revisions over the years. In the 2007 revision, the value was Rs 50 per sq.ft, which increased significantly to Rs 500 per sq.ft in the 2012 revision, marking a 900% increase. However, in the 2017 revision, the value decreased to Rs 335 per sq.ft, a reduction of 33%. The 2023 revision maintained the value at Rs 500 per sq.ft, and this remains unchanged in the 2024 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 900%. The 2023 to 2024 revision shows no change, with a consistent value of Rs 500 per sq.ft during this period.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Vanickar Street's 2024 figure of Rs 500 per sq.ft is above this median.

• Vasantham Town: Rs 500 per sq.ft (2024)
• Venkat Ramani Nagar: Rs 400 per sq.ft (2024)
• Vetri Enclave Phase III: Rs 500 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Thiruvallur- Red hills Raod: Rs 500 per sq.ft (2024)
• V.K.N. Nagar 1st Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vanickar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 Vanickar Street?

The Sub Registrar Office that covers Vanickar Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ikkadu, as it determines the minimum value at which properties can be registered. When a buyer purchases a property, the guideline value helps establish the amount of stamp duty and registration fees that must be paid.

Additionally, the guideline value serves as a reference point for both buyers and sellers to understand property pricing in the area. It is essential for buyers to be aware of the guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Vanickar Street?

The current guideline value of Vanickar Street is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with a notable increase from Rs 50 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, followed by a decrease to Rs 335 per sq.ft in 2017. It remained at Rs 500 per sq.ft in both the 2023 and 2024 revisions.

What is the median guideline value for streets in Ikkadu?

The median guideline value for the 51 streets in Ikkadu under the Tiruvallur Joint 1 SRO is Rs 400 per sq.ft. Vanickar Street's 2024 figure of Rs 500 per sq.ft is above this median.

What are the stamp duty and registration fees for properties on Vanickar Street?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vanickar Street located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. This office handles registrations for properties in Vanickar Street.