Guideline Value for Sri Vadivudai Amman Nagar

Sri Vadivudai Amman Nagar guideline value

The current guideline value of Sri Vadivudai Amman Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Thandalkazhani village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Sri Vadivudai Amman Nagar has changed

The guideline value for Sri Vadivudai Amman Nagar has seen several revisions over the years. Starting from Rs 352 per sq.ft in 2002, it increased to Rs 38 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then jumped to Rs 800 per sq.ft in 2012, before dropping to Rs 536 per sq.ft in 2017. The 2023 revision set the value at Rs 800 per sq.ft, and the latest revision in 2024 raised it to Rs 880 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%. There was a notable increase of 167% from 2007 to 2012, while the value saw a massive jump of 689% from 2003 to 2007. Overall, from 2002 to 2024, the guideline value has increased by 150%. The register has no figure for the years not mentioned.

Guideline values in Thandalkazhani

In Thandalkazhani, there are 27 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median value is Rs 880 per sq.ft, making the guideline value for Sri Vadivudai Amman Nagar equal to this median.

• Thanigai Nagar: Rs 660 per sq.ft (2024)
• Sathya Nagar: Rs 880 per sq.ft (2024)
• Vadivudaiamman Nagar Main Street: Rs 880 per sq.ft (2024)
• Veeran Alagumuthu 1st Street: Rs 880 per sq.ft (2024)
• Veeran Alagumuthu Street: Rs 880 per sq.ft (2024)
• Sai Dev Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vadivudai Amman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, making the total cost for these fees Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vadivudai Amman Nagar?

The Sub Registrar Office that covers Sri Vadivudai Amman Nagar is the Redhills Sub Registrar Office, 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 Thandalkazhani

The guideline value plays a crucial role during the registration process of property transactions in Thandalkazhani. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the higher amount between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vadivudai Amman Nagar?

The current guideline value of Sri Vadivudai Amman Nagar is Rs 880 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 352 per sq.ft in 2002 to Rs 880 per sq.ft in 2024, with various revisions in between. Notable changes include a 689% increase from 2003 to 2007 and a 49% increase from 2017 to 2023.

What is the land classification for Sri Vadivudai Amman Nagar?

Sri Vadivudai Amman Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Sri Vadivudai Amman Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,80,000, leading to a stamp duty of Rs 61,600 at 7%.