Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of Vanniyar Street has changed

Over the years, the guideline value of Vanniyar Street has seen significant changes. The earliest recorded figure in the register is from 2007, where it was Rs 620 per sq.ft. This value increased to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 384%. However, it then decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. Following this, the value surged to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no recorded figures for Vanniyar Street in the years 2002 and 2003. From 2017 to 2023, the increase was 49%, leading to the current value of Rs 3,300 per sq.ft, which indicates an overall increase of 432% from the 2007 figure.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft as of 2024. The median guideline value in this area is Rs 4,900 per sq.ft, placing Vanniyar Street's 2024 figure below that median.

• Varadappa Naicken Street: Rs 4,100 per sq.ft (2024)
• Vannan Street: Rs 2,700 per sq.ft (2024)
• Varadarajulu Street: Rs 2,200 per sq.ft (2024)
• Vargheese (Road) (Avenue): Rs 8,800 per sq.ft (2024)
• Valluvar Street (West Jones Road): Rs 4,400 per sq.ft (2024)
• Valluvar Street (Thiru Nagar): Rs 4,400 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty charged at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vanniyar Street?

The Sub Registrar Office that covers Vanniyar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Vanniyar Street?

The Ashok Nagar Sub Registrar Office handles registrations for Vanniyar Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Vanniyar Street?

The land classification for Vanniyar Street is Residential Class IV Type - II, indicating its suitability for residential purposes.