Guideline Value for West Vanniyar Street 1st Cross Street

West Vanniyar Street 1st Cross Street guideline value

The current guideline value of West Vanniyar Street 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of West Vanniyar Street 1st Cross Street has changed

The guideline value for West Vanniyar Street 1st Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 537 per sq.ft, which increased to Rs 595 per sq.ft in 2003, marking an increase of 11%. The value then rose to Rs 800 per sq.ft in 2007, a substantial increase of 34%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 275%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The guideline value then climbed to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 515%. There are no figures available for the revisions in years other than those listed above.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value for West Vanniyar Street 1st Cross Street is below this median.

• West Vanniyar Street: Rs 3,300 per sq.ft (2024)
• West Vanniyar Street 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street: Rs 2,750 per sq.ft (2024)
• Yathaval Street 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Yathaval Street 3rd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in West Vanniyar Street 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 West Vanniyar Street 1st Cross Street?

The Sub Registrar Office that covers West Vanniyar Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Virugambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly within the official registry. This process aids in maintaining transparency in property transactions in the region.

Frequently asked questions

What is the current guideline value of West Vanniyar Street 1st Cross Street?

The current guideline value of West Vanniyar Street 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 537 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 515%.

What is the land classification for West Vanniyar Street 1st Cross Street?

The land classification for West Vanniyar Street 1st Cross Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for West Vanniyar Street 1st Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 2,97,000.