Guideline Value for Vaniyan Kutti Street

Vaniyan Kutti Street guideline value

The current guideline value of Vaniyan Kutti Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vaniyan Kutti Street has changed

The guideline value for Vaniyan Kutti Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, this value decreased to Rs 1,005 per sq.ft in 2017, reflecting a drop of 33%. The subsequent revision in 2023 set the value at Rs 1,500 per sq.ft, which was then increased to Rs 1,650 per sq.ft in 2024, representing a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 230%. There are no figures available for the revisions in 2002 and 2003 for Vaniyan Kutti Street.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Vaniyan Kutti Street's current value is below this median.

• Vedan Kannappar Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 2,530 per sq.ft (2024)
• Veerapatran Street: Rs 2,530 per sq.ft (2024)
• Velacherry Road: Rs 6,600 per sq.ft (2024)
• U.V.Swaminathan Iyer Street: Rs 3,850 per sq.ft (2024)
• Vellalar Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniyan Kutti Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty charged at 7% would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000, leading to a total cost of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaniyan Kutti Street?

The Sub Registrar Office that covers Vaniyan Kutti 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property transactions.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaniyan Kutti Street?

The current guideline value of Vaniyan Kutti Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the stamp duty rate for properties in Vaniyan Kutti Street?

The stamp duty rate for properties in Vaniyan Kutti Street is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Vaniyan Kutti Street?

The Sub Registrar Office for Vaniyan Kutti Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

What is the classification of Vaniyan Kutti Street?

Vaniyan Kutti Street is classified as Residential Class I Type - I under the guideline value register.