Guideline Value for Vannan Street

Vannan Street guideline value

The current guideline value of Vannan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - III.

How the guideline value of Vannan Street has changed

Over the years, the guideline value of Vannan Street has seen several revisions. The 2007 revision recorded a guideline value of Rs 620 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a substantial rise of 303%. However, the value then decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of 33%. The following revision in 2023 saw the value increase to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,700 per sq.ft, an increase of 8%.

The register has no figures for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 335%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Vannan Street's 2024 value below this median.

• Vanniyar Street: Rs 3,300 per sq.ft (2024)
• Varadappa Naicken Street: Rs 4,100 per sq.ft (2024)
• Varadarajulu Street: Rs 2,200 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 per sq.ft (2024)
• Vargheese (Road) (Avenue): Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vannan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that 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 details.

Which Sub Registrar Office covers Vannan Street?

The Sub Registrar Office that covers Vannan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is set by the government and is intended to reflect the market value of properties in the area.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of Vannan Street?

The current guideline value of Vannan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 335%.

What are the stamp duty and registration fees for properties on Vannan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,43,000.

Which Sub Registrar Office covers Vannan Street?

The Ashok Nagar Sub Registrar Office covers Vannan Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value for streets in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Vannan Street's value being below this median.