Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street in Arani village, under the Arani_Tiruvallur SRO, is Rs 300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - III land classification.

How the guideline value of Vanniyar Street has changed

Over the years, the guideline value of Vanniyar Street has seen several revisions. In 2002, the value was Rs 70 per sq.ft, which increased to Rs 78 per sq.ft in 2003, marking a change of +11%. In 2007, the value rose significantly to Rs 150 per sq.ft, showing an increase of +92%. The 2012 revision set the value at Rs 300 per sq.ft, reflecting a substantial increase of +100% from the previous revision. However, from 2017 to 2023, the value remained at Rs 300 per sq.ft, and in the latest 2024 revision, it continues to be Rs 300 per sq.ft, indicating no change from the previous year.

From 2017 to 2023, the value increased by +49%, while the change from 2012 to 2017 was a decrease of -33%. Overall, from 2002 to 2024, there has been a significant increase of +329% in the guideline value. The register has no figure for the years not mentioned in this summary.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO, with guideline values for 2024 ranging from Rs 200 to Rs 600 per sq.ft. The median value is Rs 300 per sq.ft, which is equal to the current guideline value of Vanniyar Street.

• Thutta Street: Rs 300 per sq.ft (2024)
• Thulukar Street: Rs 350 per sq.ft (2024)
• Thottakara Street: Rs 500 per sq.ft (2024)
• Vinayagar Koil Street: Rs 500 per sq.ft (2024)
• Vishnu Garden: Rs 201 per sq.ft (2024)
• Thelungu Colony: Rs 200 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. It is important to note that the 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 Vanniyar Street?

The Sub Registrar Office that covers Vanniyar Street is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arani. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions. Buyers and sellers must ensure that these values are accurately reflected during the registration process to comply with legal requirements.

When a property is sold, the guideline value is used to determine the applicable charges, ensuring that both parties are aware of the financial obligations involved. This helps maintain transparency in property transactions and ensures that all legal formalities are adhered to.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2002 to Rs 300 per sq.ft in 2024, showing an overall increase of +329% over the years.

What are the other streets in Arani with their guideline values?

Other streets in Arani include Thutta Street at Rs 300 per sq.ft, Thulukar Street at Rs 350 per sq.ft, Thottakara Street and Vinayagar Koil Street both at Rs 500 per sq.ft, Vishnu Garden at Rs 201 per sq.ft, and Thelungu Colony at Rs 200 per sq.ft.

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

The stamp duty for a 1,000 sq.ft plot at the guideline value of Rs 300 per sq.ft would be Rs 21,000, and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where is the Sub Registrar Office for Vanniyar Street located?

The Sub Registrar Office for Vanniyar Street is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101, Chennai registration zone.