Guideline Value for VADA AGARAM STREET

Vada Agaram Street guideline value

The current guideline value of Vada Agaram Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - II.

How the guideline value of Vada Agaram Street has changed

Over the years, the guideline value of Vada Agaram Street has seen significant changes. In 2007, the value was Rs 2,100 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, it then dropped to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023 and reached the current figure of Rs 6,600 per sq.ft in 2024. There are no figures available for the revisions in 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The value then saw a rise of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 214%, reflecting the changes in the real estate landscape of the area.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value of Vada Agaram Street.

• Vada Agaram Road: Rs 7,700 per sq.ft (2024)
• Vada Agaram 1st Street: Rs 12,000 per sq.ft (2024)
• Thiruvalluvarpuram 2nd Street: Rs 7,100 per sq.ft (2024)
• Thiruvalluvarpuram 1st Street: Rs 7,100 per sq.ft (2024)
• Thanthoni Amman Koil Street: Rs 4,400 per sq.ft (2024)
• Vinayagar 1st Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vada Agaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. 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 more detailed calculations.

Which Sub Registrar Office covers Vada Agaram Street?

The Sub Registrar Office that covers Vada Agaram 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 additional assistance.

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

The guideline value is a critical factor in the registration of property transactions in Vadaagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure a transparent and fair transaction process.

Frequently asked questions

What is the current guideline value of Vada Agaram Street?

The current guideline value of Vada Agaram Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,100 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Vada Agaram Street?

Vada Agaram Street is classified as Residential Special Type - II.

What is the registration office for Vada Agaram Street?

The registration office for Vada Agaram 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?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at a rate of 7%.