Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Vanniyar Street has changed

The guideline value for Vanniyar Street has undergone several revisions over the years. In 2003, the value was Rs 168 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 257%. The value saw an even larger jump to Rs 3,200 per sq.ft in 2012, reflecting a 433% increase. However, it then decreased to Rs 2,144 per sq.ft in 2017, a drop of 33%. The guideline value rose again to Rs 3,200 per sq.ft in 2023, and most recently, it increased by 10% to reach Rs 3,520 per sq.ft in 2024.

There is no figure available for Vanniyar Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1995%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Vanniyar Street's 2024 figure above this median.

• Varadhan Nagar: Rs 3,850 per sq.ft (2024)
• Vasantham Nagar: Rs 3,300 per sq.ft (2024)
• Valluvar High Road: Rs 3,520 per sq.ft (2024)
• Vasantham Nagar 2nd cross Street: Rs 3,300 per sq.ft (2024)
• Valluvar 3rd Street: Rs 3,300 per sq.ft (2024)
• Valluvar 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vanniyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total charges to Rs 3,16,800. The duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanniyar Street?

The Sub Registrar Office that covers Vanniyar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Zaminpallavaram

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees, ensuring that the transaction is compliant with the local regulations. This value helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 168 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 1995% over the years.

What is the significance of the guideline value?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the fees are based on a standardized value for properties in the area.

Where can I find the Sub Registrar Office for Vanniyar Street?

The Sub Registrar Office for Vanniyar Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate the stamp duty and registration fees?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for accurate calculations.