Guideline Value for Vanjinathan Street

Vanjinathan Street guideline value

The current guideline value of Vanjinathan 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 Street has changed

Looking at the historical revisions, the guideline value for Vanjinathan Street was Rs 3,500 per sq.ft in 2012. This decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. However, the latest revision in 2024 shows a significant increase 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 increased by 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for Vanjinathan 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 is Rs 3,850 per sq.ft, which is equal to the guideline value of Vanjinathan Street.

• Vanjinathan 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Vanjinathan 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to 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.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Vanjinathan Street?

The Sub Registrar Office that covers Vanjinathan 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 plays a crucial role during property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value is considered to ensure compliance with legal requirements. It is essential for both buyers and sellers to be aware of 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value 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. Overall, the value has increased by 10% from 2012 to 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 38,50,000. The stamp duty at 7% is Rs 2,69,500, and the registration fee at 2% is Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Vanjinathan Street?

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

What is the land classification of Vanjinathan Street?

Vanjinathan Street is classified as Residential Class II Type - I, which indicates its designation for residential use under the local land classification guidelines.