Guideline Value for Vanuvam Pettai Main Road

Vanuvam Pettai Main Road guideline value

The current guideline value of Vanuvam Pettai Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Ullagaram village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Vanuvam Pettai Main Road has changed

The guideline value for Vanuvam Pettai Main Road has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 140 per sq.ft. This increased significantly to Rs 157 per sq.ft in 2003, marking a 12% rise. The value continued to climb dramatically, reaching Rs 1,200 per sq.ft in 2007, which was a substantial increase of 664% from the previous figure.

In 2012, the guideline value was recorded at Rs 5,000 per sq.ft, reflecting a decrease of 33% from the 2007 revision. The value then rose to Rs 3,350 per sq.ft in 2017, a 49% increase. The most recent revision in 2023 set the value at Rs 5,000 per sq.ft, followed by the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figure for this street in the years not mentioned.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,800 per sq.ft, placing Vanuvam Pettai Main Road's current value above that median.

• Vallalar Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan Street Ext.: Rs 2,800 per sq.ft (2024)
• U V Samynathan Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan 4th Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan 3rd Street: Rs 2,800 per sq.ft (2024)
• U V Samynathan 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vanuvam Pettai Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanuvam Pettai Main Road?

The Sub Registrar Office that covers Vanuvam Pettai Main Road is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ullagaram. It serves as a benchmark for determining the value of the property for taxation purposes, ensuring that the government receives appropriate revenue from property transactions.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for all property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vanuvam Pettai Main Road?

The current guideline value of Vanuvam Pettai Main Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 140 per sq.ft in 2002 to the current value of Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 3829% over the years.

What is the median guideline value in Ullagaram?

The median guideline value in Ullagaram is Rs 2,800 per sq.ft, with Vanuvam Pettai Main Road's current value being above this median.

What are the stamp duty and registration fees for properties on Vanuvam Pettai Main Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 4,95,000 based on the current guideline value.

Where is the Sub Registrar Office for Vanuvam Pettai Main Road located?

The Sub Registrar Office for Vanuvam Pettai Main Road is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.