Guideline Value for VADAKKU STREET

Vadakku Street guideline value

The current guideline value of Vadakku Street in Iyaampettai village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad SRO and is classified as Residential Class I Type - I.

How the guideline value of Vadakku Street has changed

The guideline value for Vadakku Street has seen several revisions over the years. In 2007, the value was Rs 50 per sq.ft, which increased dramatically to Rs 500 per sq.ft in 2012, marking a rise of 900%. However, it then decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 500 per sq.ft in 2023, and most recently, it has increased to Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1000%, demonstrating significant changes over the years.

Guideline values in Iyaampettai

In Iyaampettai, there are 12 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 660 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the guideline value of Vadakku Street.

• Nadu Street: Rs 550 per sq.ft (2024)
• Melmadaveethi: Rs 550 per sq.ft (2024)
• Male Street: Rs 550 per sq.ft (2024)
• Main Road: Rs 550 per sq.ft (2024)
• Kezh Street: Rs 550 per sq.ft (2024)
• Kanthappar Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vadakku Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. 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 precise calculations based on your property.

Which Sub Registrar Office covers Vadakku Street?

The Sub Registrar Office that covers Vadakku Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Iyaampettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadakku Street?

The current guideline value of Vadakku Street is Rs 550 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 50 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting a total increase of 1000% over the years.

What are the other streets in Iyaampettai with the same guideline value?

Other streets in Iyaampettai with the same 2024 guideline value of Rs 550 per sq.ft include Nadu Street, Melmadaveethi, Male Street, Main Road, Kezh Street, and Kanthappar Street.

What are the stamp duty and registration fees for properties in Vadakku Street?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500 for these fees.

Where can I find the Sub Registrar Office for Vadakku Street?

The Sub Registrar Office for Vadakku Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.