Guideline Value for West Vanniyar Street

West Vanniyar Street guideline value

The current guideline value of West Vanniyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of West Vanniyar Street has changed

The guideline value for West Vanniyar Street has seen several revisions over the years. In the 2012 revision, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 3,000 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 is below this median.

• West Vanniyar Street 1st Cross 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

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 and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers West Vanniyar Street?

The West Vanniyar Street falls under the jurisdiction of 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 an important factor when it comes to the registration of property in Virugambakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a benchmark for the transaction. It helps in assessing the fair value of the property and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of West Vanniyar Street?

The current guideline value of West Vanniyar 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 from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for West Vanniyar Street?

West Vanniyar Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for West Vanniyar Street?

The Sub Registrar Office covering West Vanniyar Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property in West Vanniyar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.