Guideline Value for Vanjinathan 2nd Cross Street

Vanjinathan 2nd Cross Street guideline value

The current guideline value of Vanjinathan 2nd 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 is classified as Residential Class II Type - I.

How the guideline value of Vanjinathan 2nd Cross Street has changed

The guideline value for Vanjinathan 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in 2017. This was a decline of 33%. However, the most recent revision in 2024 has increased the value to Rs 3,850 per sq.ft, marking a significant rise of 64% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 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 with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value among these streets is Rs 3,850 per sq.ft, which is the same as the current guideline value for Vanjinathan 2nd Cross Street.

• Vanjinathan 1st 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 2nd 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, charged at 7%, would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is essential 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 details.

Which Sub Registrar Office covers Vanjinathan 2nd Cross Street?

The Sub Registrar Office that covers Vanjinathan 2nd 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 information.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam, as it determines the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Understanding the guideline value helps both parties in the transaction to estimate the costs involved accurately.

Frequently asked questions

What is the current guideline value of Vanjinathan 2nd Cross Street?

The current guideline value of Vanjinathan 2nd Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, and then increased to Rs 3,850 per sq.ft in 2024. This represents a decline of 33% from 2012 to 2017, followed by a rise of 64% from 2017 to 2024.

What is the land classification for Vanjinathan 2nd Cross Street?

Vanjinathan 2nd Cross Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The Virugambakkam Sub Registrar Office covers Vanjinathan 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.