Guideline Value for Vanniyar Street

Vanniyar Street guideline value

The current guideline value of Vanniyar Street in Satthankadu village is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Thiruvottiyur SRO and is classified as Residential Class I Type - II.

How the guideline value of Vanniyar Street has changed

The guideline value for Vanniyar Street has seen several revisions over the years. In 2002, the guideline value was Rs 329 per sq.ft, which increased to Rs 381 per sq.ft in 2003. Following this, the value rose significantly to Rs 800 per sq.ft in 2007, and then to Rs 2,600 per sq.ft in 2012. However, there was a decline to Rs 1,742 per sq.ft in 2017. The value then increased to Rs 2,600 per sq.ft in 2023 before reaching the current figure of Rs 2,800 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, there was an increase of 16%; from 2003 to 2007, an increase of 110%; from 2007 to 2012, a rise of 225%; a decrease of 33% from 2012 to 2017; an increase of 49% from 2017 to 2023; and finally, an increase of 8% from 2023 to 2024. Overall, the guideline value has increased by 751% from 2002 to 2024.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,400 per sq.ft. Vanniyar Street's current guideline value is below this median.

• Varadharajan street: Rs 2,800 per sq.ft (2024)
• Vasantha Nagar: Rs 3,900 per sq.ft (2024)
• Veera raghavan street: Rs 3,400 per sq.ft (2024)
• Upparapalayam Streets: Rs 3,400 per sq.ft (2024)
• Udayasooriyan Street: Rs 3,400 per sq.ft (2024)
• Udayasooriyan Link Road: Rs 3,400 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees to Rs 2,52,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanniyar Street?

The Vanniyar Street is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Satthankadu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vanniyar Street?

The current guideline value of Vanniyar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 329 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 751% over the years.

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

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

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values of other streets in Satthankadu?

Other streets in Satthankadu have varying guideline values, with rates ranging from Rs 2,200 to Rs 5,500 per sq.ft. For example, Varadharajan street and Vasantha Nagar have values of Rs 2,800 and Rs 3,900 per sq.ft respectively.