Guideline Value for VADAKKU PATTU ROAD

Vadakku Pattu Road guideline value

The current guideline value of Vadakku Pattu Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Kovilambakkam village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Vadakku Pattu Road has changed

Over the years, the guideline value of Vadakku Pattu Road has seen several revisions. The 2007 revision set the value at Rs 1,867 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The subsequent revisions saw significant increases, with the 2023 revision marking the value at Rs 2,000 per sq.ft, and the latest 2024 revision increasing it to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

In summary, the changes between revisions are as follows: from 2017 to 2023, there was a 49% increase; from 2012 to 2017, a decrease of 33%; and from 2007 to 2012, an increase of 7%. Overall, from 2007 to 2024, the guideline value has increased by 18%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kovilambakkam

Kovilambakkam has 61 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,610 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Vadakku Pattu Road is below this median.

• Tranquil Acres: Rs 4,070 per sq.ft (2024)
• Thiruvin Nagar: Rs 4,070 per sq.ft (2024)
• Thiruvenkandam Nagar: Rs 2,160 per sq.ft (2024)
• Thiru Nagar: Rs 2,750 per sq.ft (2024)
• Thiruchudar: Rs 4,070 per sq.ft (2024)
• Viduthalai Nagar: Rs 4,070 per sq.ft (2024)

Stamp duty and registration fee for property in Vadakku Pattu Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadakku Pattu Road?

The Sub Registrar Office that covers Vadakku Pattu Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kovilambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value serves as a benchmark for the minimum value at which the property can be registered. Buyers and sellers must ensure that the sale price is in compliance with the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Vadakku Pattu Road?

The current guideline value of Vadakku Pattu Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. Other notable changes include an increase from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for Vadakku Pattu Road?

The land classification for Vadakku Pattu Road is Residential Class I Type - III, indicating its suitability for residential developments.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kovilambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.