Guideline Value for Vannar Street

Vannar Street guideline value

The current guideline value of Vannar Street in Menambedu village is Rs 1,000 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Class III Type - I.

How the guideline value of Vannar Street has changed

Since the 2012 revision, the guideline value for Vannar Street has seen various changes. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose back to Rs 1,000 per sq.ft in the 2023 revision and has remained the same in the 2024 revision, showing no percentage change from 2023 to 2024.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 1,000 per sq.ft.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. Vannar Street's current guideline value is below this median.

• Varadhan Street: Rs 1,700 per sq.ft (2024)
• Uthra Nagar: Rs 1,002 per sq.ft (2024)
• Vengatachalapathi Street: Rs 1,001 per sq.ft (2024)
• Venkata Cross Street: Rs 1,001 per sq.ft (2024)
• T.T.P Colony: Rs 1,300 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Vannar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vannar Street?

The Sub Registrar Office that covers Vannar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the appropriate amounts are paid based on the official valuation rather than the sale price alone.

Frequently asked questions

What is the current guideline value of Vannar Street?

The current guideline value of Vannar Street is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,000 per sq.ft in 2023 and 2024, increased from Rs 670 per sq.ft in 2017, and was Rs 1,000 in 2012. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification of Vannar Street?

Vannar Street is classified as Residential Class III Type - I under the guideline value register.

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

For a 1,000 sq.ft plot at the guideline value of Rs 1,000 per sq.ft, the total fees would be Rs 90,000, which includes a stamp duty of Rs 70,000 and a registration fee of Rs 20,000.

Where is the Sub Registrar Office for Vannar Street located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.