Guideline Value for Vanniya puram Corporation Colony

Vanniya puram Corporation Colony guideline value

The current guideline value for Vanniya puram Corporation Colony is Rs 6,100 per sq.ft, effective from 1 July 2024. This area is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vanniya puram Corporation Colony has changed

In the 2023 revision, the guideline value was set at Rs 5,600 per sq.ft. The most recent revision in 2024 saw an increase of 9%, bringing the guideline value to Rs 6,100 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Comparing the revisions, the increase from 2023 to 2024 reflects a notable adjustment in the guideline value. The previous figures from earlier revisions are not available for this street, making the 2023 and 2024 figures the only registered values.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, indicating that Vanniya puram Corporation Colony's 2024 figure is below this median.

• Varadharajapuram Main Road: Rs 7,700 per sq.ft (2024)
• Varasidhi Vinayagar Koil Street: Rs 8,800 per sq.ft (2024)
• Veenus Colony 1st Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 2nd Street: Rs 17,600 per sq.ft (2024)
• Veenus Colony 3rd Street: Rs 17,600 per sq.ft (2024)
• Turn Bulls Road Extention: Rs 10,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniya puram Corporation Colony

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanniya puram Corporation Colony?

The Vanniya puram Corporation Colony is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps determine the official value of the property, which is essential for legal documentation. It is important for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vanniya puram Corporation Colony?

The current guideline value of Vanniya puram Corporation Colony is Rs 6,100 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased by 9% from Rs 5,600 per sq.ft in 2023 to Rs 6,100 per sq.ft in 2024.

What is the land classification for Vanniya puram Corporation Colony?

Vanniya puram Corporation Colony is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Vanniya puram Corporation Colony?

The Sub Registrar Office for Vanniya puram Corporation Colony is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 61,00,000, the stamp duty would be Rs 4,27,000 at 7%.