Guideline Value for Vannar Lane

Vannar Lane guideline value

The current guideline value of Vannar Lane is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vannar Lane has changed

Over the years, the guideline value for Vannar Lane has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, there was a significant drop to Rs 804 per sq.ft in 2017. The value then rose to Rs 1,200 per sq.ft in 2023, before reaching the current rate of Rs 1,300 per sq.ft in 2024. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while it saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was 100%. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

Tondaiarpet village has a total of 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that Vannar Lane's 2024 figure is below this median.

• Vannara Street: Rs 1,300 per sq.ft (2024)
• Varadaraja Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Vathiyar eagappan Cross Street: Rs 2,200 per sq.ft (2024)
• Vathiyar eagappan Street: Rs 2,200 per sq.ft (2024)
• Vaidyanathan Street West [2]: Rs 4,400 per sq.ft (2024)
• Veerakutty Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vannar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total charges Rs 1,17,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vannar Lane?

The Sub Registrar Office that covers Vannar Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tondaiarpet. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded based on a standard valuation.

This value is used to calculate stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vannar Lane?

The current guideline value of Vannar Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117% over this period.

What is the land classification of Vannar Lane?

Vannar Lane is classified as Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is stamp duty calculated for properties in Vannar Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 91,000.