Guideline Value for VADA MALAI PILLAI STREET

Vada Malai Pillai Street guideline value

The current guideline value of Vada Malai Pillai Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Vada Malai Pillai Street has changed

The guideline value for Vada Malai Pillai Street has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 206% rise. However, it then decreased to Rs 3,685 per sq.ft in 2017, a drop of 33%. The value rebounded to Rs 5,500 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 233%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, making the 2024 guideline value of Vada Malai Pillai Street above this median.

• Uppira Valluvan Street: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan Street: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 3rd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 2nd Lane: Rs 4,400 per sq.ft (2024)
• Uppira Narayanan 1st Lane: Rs 4,400 per sq.ft (2024)
• Vaikkakaran Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vada Malai Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total charges Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vada Malai Pillai Street?

The Sub Registrar Office that covers Vada Malai Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions within Purasaivakkam. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to understand the financial implications of their transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both parties to be aware of the current guideline value to avoid any disputes during the registration process.

Frequently asked questions

What is the current guideline value of Vada Malai Pillai Street?

The current guideline value of Vada Malai Pillai Street is Rs 6,000 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 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 233% over the years.

What is the stamp duty for property in Vada Malai Pillai Street?

The stamp duty for property in Vada Malai Pillai Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vada Malai Pillai Street located?

The Sub Registrar Office for Vada Malai Pillai Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the other streets in Purasaivakkam with guideline values?

Other streets in Purasaivakkam include Uppira Valluvan Street, Uppira Narayanan Street, Uppira Narayanan 3rd Lane, Uppira Narayanan 2nd Lane, Uppira Narayanan 1st Lane, and Vaikkakaran Street, with values ranging from Rs 4,400 to Rs 6,000 per sq.ft.