Guideline Value for Vanjinathan 1st Cross Street

Vanjinathan 1st Cross Street guideline value

The current guideline value of Vanjinathan 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Vanjinathan 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 3,500 per sq.ft. However, it decreased to Rs 2,345 per sq.ft in the 2017 revision, marking a decline of 33%. The most recent revision in 2024 saw the guideline value increase significantly to Rs 3,850 per sq.ft, reflecting a rise of 64% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is the same as the guideline value for Vanjinathan 1st Cross Street.

• Vanjinathan 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Vanjinathan Street: Rs 3,850 per sq.ft (2024)
• Vani Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Vani Nagar: Rs 4,950 per sq.ft (2024)
• Valliyammai Nagar main road: Rs 3,850 per sq.ft (2024)
• Valliyammai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vanjinathan 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total cost for these fees would be Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanjinathan 1st Cross Street?

The Sub Registrar Office that covers Vanjinathan 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a critical factor used during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which can influence negotiations and the final sale price. It is essential to be aware of the current guideline value to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Vanjinathan 1st Cross Street?

The current guideline value of Vanjinathan 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value has increased by 10%, moving from Rs 3,500 per sq.ft in 2012 to Rs 3,850 per sq.ft in 2024.

What were the guideline values in previous revisions?

The guideline values for Vanjinathan 1st Cross Street were Rs 3,500 per sq.ft in 2012, Rs 2,345 per sq.ft in 2017, and Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the stamp duty rate for properties in Vanjinathan 1st Cross Street?

The stamp duty rate for properties in Vanjinathan 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Vanjinathan 1st Cross Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find more details by using the provided link.