Guideline Value for West Vanniyar Street 2nd Cross Street

West Vanniyar Street 2nd Cross Street guideline value

The current guideline value of West Vanniyar Street 2nd 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 2nd Cross Street has changed

The guideline value for West Vanniyar Street 2nd Cross Street has seen several revisions over the years. In 2002, the guideline value was Rs 537 per sq.ft. This increased to Rs 595 per sq.ft in 2003, marking a rise of 11%. The value then rose to Rs 750 per sq.ft in 2007, which was a significant increase of 26%. Following this, the value jumped to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 300%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value then increased again to Rs 3,000 per sq.ft in 2023, followed by a rise to the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase.

There are no figures available for the revisions in years other than those listed. The overall increase in guideline value from 2002 to 2024 is 515%.

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. The median guideline value in this area is Rs 4,400 per sq.ft, which means that the guideline value for West Vanniyar Street 2nd Cross Street is below that median.

• West Vanniyar Street 1st Cross Street: Rs 3,300 per sq.ft (2024)
• West Vanniyar 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 2nd 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Vanniyar Street 2nd Cross Street?

The Sub Registrar Office that covers West Vanniyar Street 2nd 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 in the registration process of property transactions in Virugambakkam. When a property is sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these charges are based on an official valuation of the property.

Frequently asked questions

What is the current guideline value for West Vanniyar Street 2nd Cross Street?

The current guideline value for West Vanniyar Street 2nd 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 from Rs 537 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 515% over this period.

What is the land classification for West Vanniyar Street 2nd Cross Street?

The land classification for West Vanniyar Street 2nd Cross Street is Residential Class IV Type - I.

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

The Sub Registrar Office for West Vanniyar Street 2nd 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, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,97,000.