Guideline Value for VADACOLONY 1st STREET

VADACOLONY 1st STREET guideline value

The current guideline value of VADACOLONY 1st STREET is Rs 101 per sq.ft, effective from 1 July 2024. This street is located in the village of Cheyyur, under the Cheyyur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of VADACOLONY 1st STREET has changed

The guideline value for VADACOLONY 1st STREET has seen significant changes over the years. The 2017 revision set the value at Rs 50 per sq.ft, which was then increased to Rs 100 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the guideline value to Rs 101 per sq.ft, marking a 1% increase from the previous year. It is important to note that the register has no figure for this street in the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 102%. The jump from Rs 50 per sq.ft in 2017 to Rs 101 per sq.ft in 2024 reflects a substantial change in the valuation over the years.

Guideline values in Cheyyur - A

In Cheyyur - A, there are 64 streets under the Cheyyur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 500 per sq.ft. The median value for these streets is Rs 101 per sq.ft, which is the same as the guideline value for VADACOLONY 1st STREET.

• Vadakku Street: Rs 400 per sq.ft (2024)
• Vadivel Nagar: Rs 200 per sq.ft (2024)
• Valluvan Street: Rs 101 per sq.ft (2024)
• Vandavasi Salai: Rs 200 per sq.ft (2024)
• Velaramman Koil Street: Rs 101 per sq.ft (2024)
• VELLIMEDU COLONY MATHAKOIL 1st STREET: Rs 101 per sq.ft (2024)

Stamp duty and registration fee for property in VADACOLONY 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty is charged at 7%, which would be Rs 7,070, and the registration fee is 2%, amounting to Rs 2,020. Therefore, the total cost for stamp duty and registration fee combined would be Rs 9,090. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VADACOLONY 1st STREET?

The Sub Registrar Office that covers VADACOLONY 1st STREET is the Cheyyur Sub Registrar Office, located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Cheyyur - A

The guideline value plays a crucial role during the registration process of property transactions in Cheyyur - A. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VADACOLONY 1st STREET?

The current guideline value of VADACOLONY 1st STREET is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2017 to Rs 100 per sq.ft in 2023, and then to Rs 101 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification for VADACOLONY 1st STREET?

VADACOLONY 1st STREET is classified as Residential Class IV Type - I. This classification is important for determining the guideline value and applicable regulations.

What are the stamp duty and registration fees for a property in VADACOLONY 1st STREET?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 9,090.

Where is the Sub Registrar Office for VADACOLONY 1st STREET located?

The Cheyyur Sub Registrar Office is located at 3/156, Salt Road, Cheyyur- 603 302, Chengalpattu registration zone. This office handles the registration of properties in the area.