Guideline Value for Vetriselvi Shri Ranga Street

Vetriselvi Shri Ranga Street guideline value

The current guideline value of Vetriselvi Shri Ranga Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Konnur village, under the Konnur SRO, classified as Residential Class I Type - I.

How the guideline value of Vetriselvi Shri Ranga Street has changed

The guideline value of Vetriselvi Shri Ranga Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a substantial rise of 525%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, followed by the latest revision to Rs 5,500 per sq.ft in 2024, reflecting an increase of 10% from the previous year.

There are no recorded figures for Vetriselvi Shri Ranga Street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 588%.

Guideline values in Konnur

Konnur village has a total of 249 streets under the Konnur SRO, with guideline values ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median guideline value in Konnur is Rs 3,800 per sq.ft, placing Vetriselvi Shri Ranga Street's 2024 value above this median.

• Vettri Selvi Anbazhagan Nagar: Rs 5,500 per sq.ft (2024)
• Venture Garden: Rs 3,500 per sq.ft (2024)
• Velumani Street: Rs 3,800 per sq.ft (2024)
• Vellerithangal Lane: Rs 3,800 per sq.ft (2024)
• Vellalar Street: Rs 5,500 per sq.ft (2024)
• Veeraranga Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vetriselvi Shri Ranga Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost of duty and fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vetriselvi Shri Ranga Street?

The Sub Registrar Office covering Vetriselvi Shri Ranga Street is the Konnur Sub Registrar Office, located at Sub Register Office, 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 Konnur

The guideline value is an essential factor in property transactions in Konnur. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The guideline value is typically used to calculate these fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction.

When registering a property, the guideline value helps to establish the official value of the property for legal purposes. This ensures transparency in transactions and helps maintain a standardized approach to property valuation in the region.

Frequently asked questions

What is the current guideline value of Vetriselvi Shri Ranga Street?

The current guideline value of Vetriselvi Shri Ranga Street 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 changed from Rs 800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 588% over the years.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 4,95,000 in fees based on the current guideline value.

Which office handles property registrations for Vetriselvi Shri Ranga Street?

The Konnur Sub Registrar Office handles property registrations for Vetriselvi Shri Ranga Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It acts as a reference point for the official value of the property, ensuring a transparent and standardized valuation process.