Guideline Value for Vanuver Veethi

Vanuver Veethi guideline value

The current guideline value of Vanuver Veethi is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Chennerkuppam village, under the Kunrathur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vanuver Veethi has changed

Over the years, the guideline value of Vanuver Veethi has seen significant changes. The earliest recorded figure in the register is from 2007, where the guideline value was Rs 450 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 167%. However, it then decreased to Rs 804 per sq.ft in 2017, which was a drop of 33%. The value continued to rise, reaching Rs 1,200 per sq.ft in 2023, and then increased again to Rs 1,320 per sq.ft in 2024, reflecting a growth of 10% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. From 2017 to 2023, the value increased by 49%, resulting in the current rate reflecting an overall increase of 193% from the 2007 figure to the 2024 figure.

Guideline values in Chennerkuppam

In total, there are 74 streets in Chennerkuppam under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, placing Vanuver Veethi's 2024 figure below that median.

• Vaniyar Street: Rs 1,320 per sq.ft (2024)
• Vallaler Street: Rs 1,540 per sq.ft (2024)
• Thulasi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Thulasi Nagar: Rs 1,430 per sq.ft (2024)
• V.G.N. Avenue: Rs 1,540 per sq.ft (2024)
• V.G. N. Road: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Vanuver Veethi

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. 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 Vanuver Veethi?

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

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

The guideline value plays a crucial role during the registration of property transactions in Chennerkuppam. It is used as a basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller registers a property, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vanuver Veethi?

The current guideline value of Vanuver Veethi is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What is the land classification of Vanuver Veethi?

Vanuver Veethi is classified as Residential Class II Type - I.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Vanuver Veethi?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.