Guideline Value for Vannan Thurai Road

Vannan Thurai Road guideline value

The current guideline value of Vannan Thurai Road is Rs 7,700 per sq.ft, effective from 1 July 2024. This road is located in Urur village, under the Adayar SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vannan Thurai Road has changed

The guideline value for Vannan Thurai Road has undergone several revisions over the years. In 2002, the guideline value was Rs 1,426 per sq.ft. This increased to Rs 1,687 per sq.ft in 2003, marking an increase of 18%. The value then rose significantly to Rs 3,300 per sq.ft in 2007, which was a 96% increase. Following this, the value saw another substantial increase to Rs 7,000 per sq.ft in 2012, reflecting a 112% rise.

From 2012, the guideline value decreased to Rs 4,690 per sq.ft in 2017, a drop of 33%. However, this value increased again to Rs 7,000 per sq.ft in 2023, and most recently, the 2024 revision set the guideline value at Rs 7,700 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 440%.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, making the guideline value for Vannan Thurai Road above this median.

• Vasantha Press Road: Rs 5,500 per sq.ft (2024)
• Vasantha Press South Lane: Rs 5,500 per sq.ft (2024)
• Urur Kuppam Slum: Rs 4,400 per sq.ft (2024)
• Urur Kuppam Road: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 1st street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 3rd street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vannan Thurai Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty would be 7% of this value, which is Rs 5,39,000, and the registration fee at 2% amounts to Rs 1,54,000, leading to a total of Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vannan Thurai Road?

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

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

The guideline value is a crucial factor in property transactions in Urur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to understand the financial implications of their property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vannan Thurai Road?

The current guideline value of Vannan Thurai Road is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with a significant increase from Rs 1,426 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 440%.

What are the stamp duty and registration fees for property on Vannan Thurai Road?

For a property valued at Rs 77,00,000, the stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registrations for Vannan Thurai Road?

The Adayar Sub Registrar Office handles property registrations for Vannan Thurai Road, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the purpose of the guideline value?

The guideline value is used to determine the minimum price for property registration and is essential for calculating stamp duty and registration fees during property transactions.