Guideline Value for Vanniyar Street West

Vanniyar Street West guideline value

The current guideline value of Vanniyar Street West is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vanniyar Street West has changed

The guideline value for Vanniyar Street West has undergone several revisions over the years. In 2002, the value was Rs 700 per sq.ft, which increased to Rs 775 per sq.ft in 2003, marking an increase of 11%. The value continued to rise significantly, reaching Rs 1,100 per sq.ft in 2007, a change of 42%. By 2012, the guideline value was Rs 4,000 per sq.ft, reflecting a substantial increase of 264% from the previous revision. However, in 2017, it dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 529%. The register has no figures for the years not mentioned in the revisions.

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 value for these streets is Rs 4,400 per sq.ft, which is equal to the current guideline value of Vanniyar Street West.

• Vanniyar Street East: 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 West

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 fees together to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vanniyar Street West?

The Sub Registrar Office that covers Vanniyar Street West 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 details.

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

The guideline value is an essential factor during the registration process of property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Vanniyar Street West?

The current guideline value of Vanniyar Street West 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 increased significantly from Rs 700 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 529% over this period.

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

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers Vanniyar Street West?

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

What is the land classification for Vanniyar Street West?

The land classification for Vanniyar Street West is Residential Class III Type - I, which indicates its designated use for residential purposes.