Guideline Value for Vanuvampettai Road 1st Lane

Vanuvampettai Road 1st Lane guideline value

The current guideline value of Vanuvampettai Road 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vanuvampettai Road 1st Lane has changed

The guideline value for Vanuvampettai Road 1st Lane has seen several revisions over the years. In 2002, the value was Rs 289 per sq.ft, which increased to Rs 330 per sq.ft in 2003, marking a 14% rise. The value then rose significantly to Rs 900 per sq.ft in 2007, an increase of 173%. This trend continued, as the value reached Rs 3,500 per sq.ft in 2012, a substantial jump of 289%. However, there was a decrease to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33% from the previous revision. By 2023, the value had increased to Rs 3,500 per sq.ft, showing a rise of 49%.

The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, which is an 11% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has risen by 1249%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Vanuvampettai Road 1st Lane.

• Vanuvam Pettai 2nd Lane: Rs 3,900 per sq.ft (2024)
• Vanuvampet - Pazhandiyamman Koil Street: Rs 3,900 per sq.ft (2024)
• Vanjinathan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• ValMeegi Street Kundrakudi Nagar: Rs 3,900 per sq.ft (2024)
• Valluvar Street: Rs 3,900 per sq.ft (2024)
• vallMigi Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vanuvampettai Road 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vanuvampettai Road 1st Lane?

The Sub Registrar Office that covers Vanuvampettai Road 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to assess the applicable fees. It is essential to note that the fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vanuvampettai Road 1st Lane?

The current guideline value of Vanuvampettai Road 1st Lane is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 289 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1249% over this period.

What is the registration fee for property in Vanuvampettai Road 1st Lane?

The registration fee for property in Vanuvampettai Road 1st Lane is 2% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Vanuvampettai Road 1st Lane?

The Alandur Sub Registrar Office is responsible for Vanuvampettai Road 1st Lane, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What other streets have the same guideline value in Adambakkam?

Other streets in Adambakkam that have the same guideline value of Rs 3,900 per sq.ft include Vanuvam Pettai 2nd Lane, Vanuvampet - Pazhandiyamman Koil Street, Vanjinathan Street (Nilamangai Nagar), ValMeegi Street Kundrakudi Nagar, Valluvar Street, and vallMigi Street (Nilamangai Nagar).