Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street in Venkatapuram village, under the Kunrathur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Vanniyar Street has changed

The guideline value of Vanniyar Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 84 per sq.ft, which increased to Rs 92 per sq.ft in 2003. The value then rose significantly to Rs 300 per sq.ft in 2007, marking a 226% increase from the previous revision. In 2012, the value was Rs 1,100 per sq.ft, but it decreased to Rs 737 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft as of the 2024 revision, reflecting a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1329%. There are no revisions with figures missing for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the guideline value of Vanniyar Street.

• Udhayam Nagar 2nd Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 2nd Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 1st Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar 1st Cross Street: Rs 1,200 per sq.ft (2024)
• Udhayam Nagar: Rs 1,200 per sq.ft (2024)
• Sundaram Nagar: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total cost for these fees Rs 1,08,000. 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 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 Venkatapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Venkatapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 84 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 1329% over this period.

What is the registration office for Vanniyar Street?

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

How is stamp duty calculated for properties in Vanniyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,00,000, the stamp duty at 7% would be Rs 84,000.

What other streets in Venkatapuram have the same guideline value?

Several other streets in Venkatapuram also have a guideline value of Rs 1,200 per sq.ft in 2024, including Udhayam Nagar 2nd Street, Udhayam Nagar 2nd Cross Street, and Sundaram Nagar, among others.