Guideline Value for Vaniyar Street

Vaniyar Street guideline value

The current guideline value of Vaniyar Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Chennerkuppam village under the Kunrathur SRO, classified as Residential Class II Type - I.

How the guideline value of Vaniyar Street has changed

The guideline value for Vaniyar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 167% rise. However, this value decreased to Rs 804 per sq.ft in 2017, representing a decline of 33%. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2023, followed by a further rise to Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 193%. The revisions reflect the changing landscape and valuation of properties in the area, with the latest revision indicating a continued upward trajectory in the guideline value.

Guideline values in Chennerkuppam

In Chennerkuppam village, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Vaniyar Street's 2024 figure below this median.

• Vanuver Veethi: Rs 1,320 per sq.ft (2024)
• Vallaler Street: Rs 1,540 per sq.ft (2024)
• Thulasi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Thulasi Nagar: Rs 1,430 per sq.ft (2024)
• V.G.N. Avenue: Rs 1,540 per sq.ft (2024)
• V.G. N. Road: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Vaniyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, leading to a total cost of Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaniyar Street?

The Vaniyar Street is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Chennerkuppam. 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 the registration requirements set by the local authorities.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction reflects the legal and financial obligations associated with property ownership in the region.

Frequently asked questions

What is the current guideline value of Vaniyar Street?

The current guideline value of Vaniyar Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting a total increase of 193% over this period.

What are the stamp duty and registration fees for property in Vaniyar Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft property, the total cost would be Rs 1,18,800.

Which office handles property registrations for Vaniyar Street?

The Kunrathur Sub Registrar Office handles property registrations for Vaniyar Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum price for property registration and is used to calculate stamp duty and registration fees during property transactions.