Guideline Value for Vaniya street

Vaniya street guideline value

The current guideline value of Vaniya street in Thirupachur village is Rs 1,000 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 Special Type - III.

How the guideline value of Vaniya street has changed

The guideline value of Vaniya street has undergone several revisions over the years. In 2007, the value was set at Rs 50 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a remarkable increase of 1900%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a reduction of 33%. The value then remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

It is important to note that the register has no figure for Vaniya street for the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1900%.

Guideline values in Thirupachur

In Thirupachur village, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 550 per sq.ft, making Vaniya street's 2024 figure of Rs 1,000 per sq.ft above that median.

• Veda Vinayagar Nagar: Rs 626 per sq.ft (2024)
• Vellalar street: Rs 550 per sq.ft (2024)
• Tiruttani Road: Rs 2,000 per sq.ft (2024)
• Tirupachur colony: Rs 550 per sq.ft (2024)
• Vettaikaran street: Rs 1,000 per sq.ft (2024)
• Pookara street/kavari street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniya street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, resulting in a total of Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaniya street?

The Vaniya street falls under the jurisdiction of 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 Thirupachur

The guideline value plays a crucial role during the registration of property transactions in Thirupachur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vaniya street?

The current guideline value of Vaniya street is Rs 1,000 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the median guideline value for streets in Thirupachur?

The median guideline value for streets in Thirupachur is Rs 550 per sq.ft, with Vaniya street's value of Rs 1,000 per sq.ft being above this median.

What are the stamp duty rates for properties in Vaniya street?

The stamp duty rate for properties in Vaniya street is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vaniya street?

The Sub Registrar Office covering Vaniya street is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.