Guideline Value for Vanniyar Street East

Vanniyar Street East guideline value

The current guideline value of Vanniyar Street East is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vanniyar Street East has changed

Over the years, the guideline value for Vanniyar Street East has seen significant changes. In 2002, the value was Rs 551 per sq.ft, which increased to Rs 610 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 1,100 per sq.ft in 2007, reflecting an 80% increase. Following this, the value surged to Rs 4,000 per sq.ft in 2012, showing a remarkable increase of 264%. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and finally, it reached Rs 4,400 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in years other than those listed. Overall, from 2002 to 2024, the guideline value has increased by 699%.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the 2024 figure for Vanniyar Street East.

• Vanniyar Street West: Rs 4,400 per sq.ft (2024)
• Vanniyar Street: Rs 7,150 per sq.ft (2024)
• Vayu Puthira Street: Rs 4,400 per sq.ft (2024)
• Velan 2nd Street: Rs 3,250 per sq.ft (2024)
• Velan 3rd Street: Rs 3,250 per sq.ft (2024)
• Velan 4th Street: Rs 3,250 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniyar Street East

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that the 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 further calculations.

Which Sub Registrar Office covers Vanniyar Street East?

The Sub Registrar Office that covers Vanniyar Street East is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Virugambakkam. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the necessary taxes are paid according to the established rates.

Frequently asked questions

What is the current guideline value of Vanniyar Street East?

The current guideline value of Vanniyar Street East is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 551 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 699%.

What is the stamp duty rate for property in Vanniyar Street East?

The stamp duty rate for property in Vanniyar Street East is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the guideline values of other streets in Virugambakkam?

Other streets in Virugambakkam have varying guideline values, with Vanniyar Street West and Vayu Puthira Street both at Rs 4,400 per sq.ft, while Vanniyar Street is higher at Rs 7,150 per sq.ft.