Guideline Value for Vittal Street First Lane

Vittal Street First Lane guideline value

The current guideline value of Vittal Street First Lane in Menambedu village is Rs 1,700 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur SRO and is classified as Residential Special Type - I.

How the guideline value of Vittal Street First Lane has changed

The guideline value for Vittal Street First Lane has seen several revisions over the years. In 2012, the guideline value was Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in 2017. Following this, the value significantly increased to Rs 1,600 per sq.ft in 2023, and finally rose to Rs 1,700 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 6% in the guideline value.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, placing Vittal Street First Lane's 2024 figure above that median.

• VittalRao Street: Rs 1,700 per sq.ft (2024)
• Vittal Street(gnanamurthy nagar): Rs 1,700 per sq.ft (2024)
• V.O. C. Nagar.: Rs 1,001 per sq.ft (2024)
• V.O.C. Street: Rs 1,001 per sq.ft (2024)
• Venkatraman Street: Rs 1,700 per sq.ft (2024)
• Venkateshwara Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Vittal Street First Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. 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 Vittal Street First Lane?

The Sub Registrar Office that covers Vittal Street First Lane is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Menambedu. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. The registration office uses this value to calculate the necessary fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vittal Street First Lane?

The current guideline value of Vittal Street First Lane is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Vittal Street First Lane?

Vittal Street First Lane is classified as Residential Special Type - I.

What are the registration fees for properties in this area?

The registration fees are calculated based on the guideline value. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000.

Which office handles registrations for Vittal Street First Lane?

The Ambattur Sub Registrar Office handles registrations for Vittal Street First Lane, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.