Guideline Value for VADAKKUPATTU THIRUVALLUVAR 2ND CROSS STREET

Vadakkupattu Thiruvalluvar 2nd Cross Street guideline value

The current guideline value of Vadakkupattu Thiruvalluvar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Medavakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Commercial Class I Type - III.

How the guideline value of Vadakkupattu Thiruvalluvar 2nd Cross Street has changed

The guideline value for Vadakkupattu Thiruvalluvar 2nd Cross Street has undergone several revisions over the years. The earliest available revision is from 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 2,500 per sq.ft. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, and Vadakkupattu Thiruvalluvar 2nd Cross Street's 2024 figure is above that median.

• Vadakkupattu Thiruvalluvar 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Vadakkupattu Thiruvalluvar Street: Rs 2,750 per sq.ft (2024)
• Vadakkupattu Annex Salai: Rs 2,750 per sq.ft (2024)
• United Colony Bagavathy Nagar Annex Salai: Rs 2,200 per sq.ft (2024)
• United Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• United Colony 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vadakkupattu Thiruvalluvar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost together Rs 2,47,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadakkupattu Thiruvalluvar 2nd Cross Street?

The Vadakkupattu Thiruvalluvar 2nd Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

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

When a property is registered, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vadakkupattu Thiruvalluvar 2nd Cross Street?

The current guideline value of Vadakkupattu Thiruvalluvar 2nd Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Vadakkupattu Thiruvalluvar 2nd Cross Street?

The land classification of Vadakkupattu Thiruvalluvar 2nd Cross Street is Commercial Class I Type - III.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property, the total guideline value is Rs 27,50,000, leading to a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which office handles the registration for Vadakkupattu Thiruvalluvar 2nd Cross Street?

The registration for Vadakkupattu Thiruvalluvar 2nd Cross Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.