Guideline Value for VADA AGARAM 1ST STREET

Vada Agaram 1st Street guideline value

The current guideline value of Vada Agaram 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Vada Agaram 1st Street has changed

The guideline value for Vada Agaram 1st Street has undergone several revisions over the years. In 2002, the value was Rs 594 per sq.ft, which increased to Rs 653 per sq.ft in 2003. Following this, there was a significant rise to Rs 6,500 per sq.ft in 2012, but it dropped to Rs 4,355 per sq.ft in 2017. The value then saw a substantial increase to Rs 6,500 per sq.ft in 2023, before reaching the current value of Rs 7,100 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2002 to 2003, the increase was +10%. From 2003 to 2012, there was a remarkable rise of +895%. However, from 2012 to 2017, the value decreased by -33%. The value then increased by +49% from 2017 to 2023, and finally, there was a +9% increase from 2023 to 2024. Notably, there is no figure available for this street in the 2007 revision.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Vada Agaram 1st Street's 2024 guideline value is above this median.

• Vada Agaram Road: Rs 7,700 per sq.ft (2024)
• Vadapalani Andavar Koil Street: Rs 8,000 per sq.ft (2024)
• Vadhiyar Thottam 1st Street: Rs 6,300 per sq.ft (2024)
• Vadhiyar Thottam 2nd Street: Rs 6,300 per sq.ft (2024)
• Vadhiyar Thottam 3rd Street: Rs 6,300 per sq.ft (2024)
• Vadhiyar Thottam Main Road: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vada Agaram 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vada Agaram 1st Street?

The Sub Registrar Office that covers Vada Agaram 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vada Agaram 1st Street?

The current guideline value of Vada Agaram 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 594 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, with various increases and decreases across different revisions.

What is the land classification for Vada Agaram 1st Street?

The land classification for Vada Agaram 1st Street is Residential Special Type - II.

Where can I find the registration office for Vada Agaram 1st Street?

The registration office for Vada Agaram 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in Vada Agaram 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at a rate of 7%.