Guideline Value for Vanjinathan Street

Vanjinathan Street guideline value

The current guideline value of Vanjinathan Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Vanjinathan Street has changed

The guideline value for Vanjinathan Street has seen several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value continued to rise significantly, reaching Rs 1,000 per sq.ft in 2007, a 233% increase from the previous revision. However, it dropped to Rs 2,500 per sq.ft in 2012, a decrease of 33% from 2007. The value then rose to Rs 1,675 per sq.ft in 2017, reflecting a 49% increase from 2012. In 2023, the guideline value was Rs 2,500 per sq.ft, which increased to Rs 2,800 per sq.ft in 2024, a 12% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1661%. There are no figures available for revisions prior to 2002 or for any other years not listed in the register.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Vanjinathan Street.

• T.K. Kabali Street: Rs 2,800 per sq.ft (2024)
• Thiru.Vi.Ka. Street: Rs 2,800 per sq.ft (2024)
• Thiruvalluvar Road: Rs 3,300 per sq.ft (2024)
• Vinayagar Street: Rs 2,800 per sq.ft (2024)
• V.O.C. Street: Rs 2,800 per sq.ft (2024)
• Thanthai Periyar Nagar Veerapandi St.,: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vanjinathan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,800 per sq.ft, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vanjinathan Street?

The Sub Registrar Office that covers Vanjinathan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When buyers and sellers agree on a sale price, the guideline value is used to calculate the applicable charges, ensuring compliance with local regulations. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Vanjinathan Street?

The current guideline value of Vanjinathan Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 159 per sq.ft to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661%.

What is the classification of land on Vanjinathan Street?

Vanjinathan Street is classified as Residential Class II Type - I under the Adayar SRO.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Vanjinathan Street located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.