Guideline Value for Vengatasubburaya Street

Vengatasubburaya Street guideline value

The current guideline value of Vengatasubburaya Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Mannurpet village, under the Konnur SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Vengatasubburaya Street has changed

The guideline value for Vengatasubburaya Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 152 per sq.ft. This increased to Rs 168 per sq.ft in 2003, marking an 11% rise. The value then saw a significant increase to Rs 400 per sq.ft in 2007, reflecting a 138% change. The 2012 revision set the value at Rs 1,000 per sq.ft, showing a 150% increase from the previous figure. However, in 2017, the value dropped to Rs 670 per sq.ft, a decrease of 33% from 2012. The value rose again to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in this register for Vengatasubburaya Street. Overall, from 2002 to 2024, the guideline value has increased by 624%.

Guideline values in Mannurpet

In Mannurpet village, there are 38 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Vengatasubburaya Street's 2024 figure below this median.

• Venkatasa Perumal Koil 3 & 4th Cross Street: Rs 1,300 per sq.ft (2024)
• Venkatasa Perumal Koil First & Second Cross Street: Rs 1,300 per sq.ft (2024)
• Venkatasa Perumal Koil Street: Rs 1,300 per sq.ft (2024)
• Zion Street: Rs 1,100 per sq.ft (2024)
• Thiruveediamman Koil Street: Rs 1,700 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vengatasubburaya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers Vengatasubburaya Street?

The Sub Registrar Office that covers Vengatasubburaya Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Mannurpet. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the buyer must pay stamp duty and registration fees based on this guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for buyers and sellers alike, as it affects the overall cost of property transactions. It ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Vengatasubburaya Street?

The current guideline value of Vengatasubburaya Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 152 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 624% over the years.

What is the land classification for Vengatasubburaya Street?

Vengatasubburaya Street is classified under Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.