Guideline Value for V.O. Chidambaram Pillai Street

V.O. Chidambaram Pillai Street guideline value

The current guideline value of V.O. Chidambaram Pillai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of V.O. Chidambaram Pillai Street has changed

The guideline value for V.O. Chidambaram Pillai Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 275% rise. However, the value then decreased to Rs 1,005 per sq.ft in 2017, reflecting a 33% drop. Following this, the value surged to Rs 1,500 per sq.ft in 2023, and then further increased to the current rate of Rs 1,650 per sq.ft in 2024, representing a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kadaperi

Kadaperi village has a total of 142 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 880 to Rs 7,700 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of V.O. Chidambaram Pillai Street.

• VV Koil Street: Rs 1,320 per sq.ft (2024)
• V.V. Koil Street Kamaraj Nagar South: Rs 1,320 per sq.ft (2024)
• Yadaval Street: Rs 2,750 per sq.ft (2024)
• Valluvar Gurukulam South Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 1,100 per sq.ft (2024)
• T.P. Sanatorium Ist Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.O. Chidambaram Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers V.O. Chidambaram Pillai Street?

The Sub Registrar Office that covers V.O. Chidambaram Pillai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the current market conditions.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly, adhering to the established guidelines.

Frequently asked questions

What is the current guideline value of V.O. Chidambaram Pillai Street?

The current guideline value of V.O. Chidambaram Pillai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the other streets in Kadaperi with their guideline values?

Other streets in Kadaperi include VV Koil Street at Rs 1,320 per sq.ft, Yadaval Street at Rs 2,750 per sq.ft, and Valluvar Gurukulam South Street at Rs 1,650 per sq.ft, among others.

What fees are associated with buying property on V.O. Chidambaram Pillai Street?

When buying property on V.O. Chidambaram Pillai Street, buyers should expect to pay stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.O. Chidambaram Pillai Street?

The Sub Registrar Office for V.O. Chidambaram Pillai Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.