Guideline Value for Vanilarasu Street

Vanilarasu Street guideline value

The current guideline value of Vanilarasu Street in Tambaram village, under the Tambaram Joint 1 SRO, is Rs 4,400 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - II.

How the guideline value of Vanilarasu Street has changed

The guideline value for Vanilarasu Street has seen significant changes over the years. In 2002, the guideline value was Rs 362 per sq.ft. This increased to Rs 446 per sq.ft in 2003, marking a rise of 23%. The value continued to increase, reaching Rs 600 per sq.ft in 2007, which was a 35% increase from the previous revision. In 2012, the guideline value was Rs 4,000 per sq.ft, showing a substantial increase of 567% from 2007. However, it decreased to Rs 2,680 per sq.ft in 2017, reflecting a drop of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,000 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, which is a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1115%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, placing Vanilarasu Street above this median.

• Vasantham nagar: Rs 2,200 per sq.ft (2024)
• Vasantham nagar Ext: Rs 1,320 per sq.ft (2024)
• Vasuki Street: Rs 1,650 per sq.ft (2024)
• Vasuki Street Ext Balaji Nagar Annex: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 2,200 per sq.ft (2024)
• Vaigai Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vanilarasu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanilarasu Street?

The Sub Registrar Office that covers Vanilarasu Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the sale process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vanilarasu Street?

The current guideline value of Vanilarasu Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 362 in 2002 to Rs 4,400 in 2024, showing an overall increase of 1115% over this period.

What is the land classification of Vanilarasu Street?

Vanilarasu Street is classified as Residential Special Type - II under the current guidelines.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Vanilarasu Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 3,08,000.