Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Porur village and falls under the Kunrathur SRO, with a land classification of Residential Special Type - III.

How the guideline value of Vanniyar Street has changed

The guideline value of Vanniyar Street has undergone several revisions over the years. In 2002, the value was Rs 593 per sq.ft, which increased to Rs 657 per sq.ft in 2003, marking a change of +11%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, representing a 52% increase. Following this, the value surged to Rs 2,600 per sq.ft in 2012, indicating a substantial increase of 160%. However, from 2012 to 2017, the guideline value saw a decrease to Rs 1,742 per sq.ft, a drop of 33%. The value then increased to Rs 2,600 per sq.ft in 2023, and most recently, it has risen to Rs 2,860 per sq.ft in 2024, reflecting a change of +10%.

Overall, the guideline value has increased by 382% from 2002 to 2024. There are no figures available for the years not listed in this register for Vanniyar Street.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. Vanniyar Street's 2024 guideline value is below this median.

• Varadaraja Nagar: Rs 2,860 per sq.ft (2024)
• Valluvar Street: Rs 2,860 per sq.ft (2024)
• Vasuki Street: Rs 2,860 per sq.ft (2024)
• Vaithiyalingam Nayakkar Street: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar Main Road: Rs 3,520 per sq.ft (2024)
• Udhaya Nagar Extn Manikandan Street: Rs 3,520 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 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. 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?

The Sub Registrar Office that covers Vanniyar Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value as per government standards.

When you buy or sell property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 593 per sq.ft in 2002 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 382% over this period.

What is the land classification for Vanniyar Street?

Vanniyar Street is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the stamp duty rates for properties in Vanniyar Street?

The stamp duty for properties in Vanniyar Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers the registration for Vanniyar Street.