Guideline Value for SRI VADIVUDAIAMMAN NAGAR

Sri Vadivudaiamman Nagar guideline value

The current guideline value of Sri Vadivudaiamman Nagar is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Siruniyam village under the Redhills SRO, classified as Mixed Type - I land.

How the guideline value of Sri Vadivudaiamman Nagar has changed

The guideline value for Sri Vadivudaiamman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 750 per sq.ft, and the most recent 2024 revision further raised it to Rs 825 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a significant increase of 49%. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Siruniyam

In Siruniyam, there are 32 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft, with a median value of Rs 440 per sq.ft. The guideline value for Sri Vadivudaiamman Nagar is above this median.

• Sri Selva Vignesh Outer Ring Road Avenue: Rs 440 per sq.ft (2024)
• Sri Selva Vignesh Nagar Phase-II: Rs 1,500 per sq.ft (2024)
• Sri Selva Vignesh Nagar East Avenue: Rs 400 per sq.ft (2024)
• Sri Selva Vignesh Nagar: Rs 440 per sq.ft (2024)
• Sri Kanniamman Nagar: Rs 960 per sq.ft (2024)
• Sri Gangadevi Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vadivudaiamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value is Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, making the total charges Rs 74,250. 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 Sri Vadivudaiamman Nagar?

Sri Vadivudaiamman Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Siruniyam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees, which are mandatory costs in the property transaction process. Buyers should be aware of these values to understand the financial implications of their purchase.

Frequently asked questions

What is the current guideline value of Sri Vadivudaiamman Nagar?

The current guideline value of Sri Vadivudaiamman Nagar is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

What is the land classification of Sri Vadivudaiamman Nagar?

Sri Vadivudaiamman Nagar is classified as Mixed Type - I land.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or the sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.