Guideline Value for Vanjinathan Street

Vanjinathan Street guideline value

The current guideline value of Vanjinathan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vanjinathan Street has changed

The guideline value for Vanjinathan Street has undergone several revisions over the years. The latest revision in 2024 set the value at Rs 2,750 per sq.ft, which reflects a 10% increase from the previous year's figure of Rs 2,500 per sq.ft established in 2023. The register does not have figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the only available revisions for Vanjinathan Street are from 2023 and 2024. The 2024 revision shows an increase from the 2023 value, indicating a change in the guideline value per sq.ft for this area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, which is the same as the 2024 figure for Vanjinathan Street.

• Vallal Pari Street: Rs 2,750 per sq.ft (2024)
• Vallal Ori Street: Rs 3,850 per sq.ft (2024)
• Vallal Kumanan Street: Rs 2,750 per sq.ft (2024)
• Vallal Kari Street(Srinivasa Nagar Extn): Rs 3,850 per sq.ft (2024)
• Vallal kari Street: Rs 3,850 per sq.ft (2024)
• Vallal Athiyaman Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Vanjinathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. 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 information on fees applicable to your property.

Which Sub Registrar Office covers Vanjinathan Street?

The Sub Registrar Office that covers Vanjinathan Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For more details, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. 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, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vanjinathan Street?

The current guideline value of Vanjinathan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vanjinathan Street has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Vanjinathan Street?

The land classification for Vanjinathan Street is Residential Class I Type - III, indicating its suitability for residential purposes.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vanjinathan Street located?

The Velacheri Sub Registrar Office, which covers Vanjinathan Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.