Guideline Value for SRI VADIVAMBIGAI RING ROAD GARDEN

Sri Vadivambigai Ring Road Garden guideline value

The current guideline value of Sri Vadivambigai Ring Road Garden is Rs 248 per sq.ft, effective from 1 July 2024. This property is located in Kodipallam village under the Thiruvottiyur SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Vadivambigai Ring Road Garden has changed

The guideline value for this street has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 50 per sq.ft, which increased significantly to Rs 225 per sq.ft in 2012, marking a 350% increase. However, it then dropped to Rs 151 per sq.ft in 2017, reflecting a decrease of 33%. The value saw a substantial rise to Rs 226 per sq.ft in 2023, which was a 50% increase from the previous revision. As of the latest 2024 revision, the guideline value stands at Rs 248 per sq.ft, representing a 10% increase from the 2023 figure.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 396%.

Guideline values in Kodipallam

In Kodipallam, there are 11 streets under the Thiruvottiyur SRO that carry a guideline value of Rs 248 per sq.ft for 2024, with this figure being equal to the median value of the area.

• Sri Vadivambigai Garden: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar Ext: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Nagar: Rs 248 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 248 per sq.ft (2024)
• S.K.M. Garden: Rs 248 per sq.ft (2024)
• Vadivambgai Sundari Garden: Rs 248 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vadivambigai Ring Road Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 248 per sq.ft, the total guideline value amounts to Rs 2,48,000. The stamp duty at 7% would be Rs 17,360, and the registration fee at 2% would be Rs 4,960, totaling Rs 22,320. 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 Sri Vadivambigai Ring Road Garden?

The Sri Vadivambigai Ring Road Garden falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodipallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value will be compared with the sale price, and the higher of the two will be used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Sri Vadivambigai Ring Road Garden?

The current guideline value of Sri Vadivambigai Ring Road Garden is Rs 248 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 248 per sq.ft in 2024, reflecting an overall increase of 396% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 22,320, calculated based on the guideline value of Rs 2,48,000.

Which Sub Registrar Office covers this property?

The property is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Sri Vadivambigai Ring Road Garden?

The land classification for Sri Vadivambigai Ring Road Garden is Residential Special Type - I.