Guideline Value for Vaniyar Lane

Vaniyar Lane guideline value

The current guideline value of Vaniyar Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vaniyar Lane has changed

The guideline value for Vaniyar Lane has seen significant changes over the years. In the 2007 revision, the value was set at Rs 1,560 per sq.ft. This figure increased dramatically to Rs 6,000 per sq.ft in the 2012 revision, marking a change of +285%. The most recent revision in 2024 has further increased the guideline value to Rs 6,600 per sq.ft, which represents a +10% change from the 2012 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +323%. It is important to note that there are no figures available for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Triplicane

In Triplicane, a total of 415 streets are recorded under the Triplicane SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value of Vaniyar Lane.

• Vaniyar Street: Rs 6,600 per sq.ft (2024)
• Vallabha Agraharam Street: Rs 7,700 per sq.ft (2024)
• Vasudevapuram Part: Rs 7,700 per sq.ft (2024)
• Veeranpuram Street (a) Veeran Parachery: Rs 2,700 per sq.ft (2024)
• Usman Khan Street: Rs 5,500 per sq.ft (2024)
• Veera Perumal Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniyar Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 Vaniyar Lane?

The Sub Registrar Office that covers Vaniyar Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value will be used to calculate the applicable duties and fees, ensuring that both parties are aware of the financial implications of the sale. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vaniyar Lane?

The current guideline value of Vaniyar Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,560 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of +323% over the years.

What is the land classification for Vaniyar Lane?

Vaniyar Lane is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles registrations for Vaniyar Lane?

The Triplicane Sub Registrar Office handles registrations for Vaniyar Lane, located at No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai-600014.