Guideline Value for Vanniar Street

Vanniar Street guideline value

The current guideline value of Vanniar Street in Kolapakkam village, under the Pammal SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Vanniar Street has changed

In the 2017 revision, the guideline value was Rs 1,206 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that the register has no figures for Vanniar Street for the years 2002, 2003, 2007, and 2012.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Vanniar Street's 2024 figure is below this median.

• Vembuliamman Koil Street: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,750 per sq.ft (2024)
• VGN LakshmiNagar: Rs 2,200 per sq.ft (2024)
• Vgn Orville: Rs 3,285 per sq.ft (2024)
• Vgn Orvillee Extension-I: Rs 4,600 per sq.ft (2024)
• Vgn Orville Extension II: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please 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 Vanniar Street?

The Sub Registrar Office that covers Vanniar Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Kolapakkam. When buying or selling property, this value is crucial for determining the stamp duty and registration fees applicable to the transaction.

At the time of registration, the guideline value is often used to calculate the taxes owed, ensuring that both the buyer and seller are aware of the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Vanniar Street?

The current guideline value of Vanniar Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,206 per sq.ft to Rs 1,980 per sq.ft in 2024, showing a 64% overall increase across the revisions.

What other streets have guideline values in Kolapakkam?

Other streets in Kolapakkam include Vembuliamman Koil Street at Rs 2,200 per sq.ft, Venkateswara Nagar at Rs 2,750 per sq.ft, and VGN LakshmiNagar also at Rs 2,200 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Vanniar Street?

The stamp duty for a property valued at Rs 19,80,000 would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles registrations for Vanniar Street?

The Pammal Sub Registrar Office handles registrations for Vanniar Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.