Guideline Value for Vaniyar Street

Vaniyar Street guideline value

The current guideline value of Vaniyar Street 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 Street has changed

Since the 2007 revision, the guideline value for Vaniyar Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,560 per sq.ft. This increased to Rs 6,000 per sq.ft in the 2012 revision, marking a substantial rise of 285%. The most recent 2024 revision shows a further increase to Rs 6,600 per sq.ft, which is a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for Vaniyar Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 323%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value 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 guideline value of Vaniyar Street.

• Vaniyar Lane: Rs 6,600 per sq.ft (2024)
• Vasudevapuram Part: Rs 7,700 per sq.ft (2024)
• Vallabha Agraharam Street: Rs 7,700 per sq.ft (2024)
• Veeranpuram Street (a) Veeran Parachery: Rs 2,700 per sq.ft (2024)
• Veera Perumal Street: Rs 6,600 per sq.ft (2024)
• Usman Khan Street: Rs 5,500 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 6,600 per sq.ft, the total 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, bringing the total fees together to Rs 5,94,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Vaniyar Street?

The Sub Registrar Office that covers Vaniyar Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Triplicane, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must be aware that the guideline value is used to assess the official value of the property for these financial obligations.

Additionally, it is essential for both parties in a transaction to understand that the guideline value may differ from the actual sale price. Therefore, the higher of the two values will be used to calculate the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Vaniyar Street?

The current guideline value of Vaniyar Street 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, representing an overall increase of 323%.

What is the land classification for Vaniyar Street?

Vaniyar Street is classified as Residential Class I Type - I under the Triplicane SRO.

Where is the Triplicane Sub Registrar Office located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 5,94,000.