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 220 per sq.ft, effective from 1 July 2024. This property is located in Arumanthi village, under the Redhills SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Sri Vadivambigai Ring Road Garden has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 100 per sq.ft. It increased to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017. Following this, the value rose significantly to Rs 200 per sq.ft in 2023, and finally reached Rs 220 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the guideline value has increased by 120%. The revisions for the years 2002 and 2003 do not have any figures listed for this street.

Guideline values in Arumanthi

In Arumanthi, there are 16 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 165 to Rs 1,100 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Sri Vadivambigai Ring Road Garden below this median.

• Sri Sankara Bala Subramaniya 400' Highway City: Rs 220 per sq.ft (2024)
• Sri Sai Sakthi Avenue: Rs 220 per sq.ft (2024)
• Sri Ram Nagar: Rs 165 per sq.ft (2024)
• Sundarraj Avenue: Rs 330 per sq.ft (2024)
• Sri Krishna Nagar: Rs 330 per sq.ft (2024)
• Sri Bhavani Amman Garden: Rs 330 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 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, while the registration fee at 2% would be Rs 4,400, bringing the total fees to Rs 19,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Sri Vadivambigai Ring Road Garden?

The Sri Vadivambigai Ring Road Garden falls under the jurisdiction of the Redhills Sub Registrar Office. The office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Arumanthi. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the fees reflect the official valuation of the property. This process helps maintain transparency and consistency in property transactions.

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 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

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

Sri Vadivambigai Ring Road Garden is classified as Residential Class II Type - I.

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

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

How is the stamp duty calculated for properties in Arumanthi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are applied during property transactions.