Guideline Value for VADANOOBAL PILLAIAR KOIL STREET

Vadanoobal Pillaiar Koil Street guideline value

The current guideline value of Vadanoobal Pillaiar Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village, under the Chennai South Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vadanoobal Pillaiar Koil Street has changed

Over the years, the guideline value of Vadanoobal Pillaiar Koil Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,970 per sq.ft, a 10% increase from the 2023 revision of Rs 2,700 per sq.ft. Prior to that, the guideline value was Rs 1,809 per sq.ft in 2017, which marked a significant increase of 49% from the previous figure of Rs 2,700 per sq.ft in 2012. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33% in the guideline value, while the overall change from 2012 to 2024 reflects a modest increase of 10%. This indicates that the guideline value has fluctuated over the years, with notable changes in specific revisions.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value across these streets is Rs 3,190 per sq.ft, placing Vadanoobal Pillaiar Koil Street's current value below this median.

• Vadanoobal Main Road (Mayana Salai): Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 1st Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 3nd Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoombal Cherry: Rs 2,970 per sq.ft (2024)
• Venkatesan Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Vadanoobal Pillaiar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. Together, these fees would total Rs 2,67,300. It is important 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 Vadanoobal Pillaiar Koil Street?

The Sub Registrar Office that covers Vadanoobal Pillaiar Koil Street is the Chennai South Joint II 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 Perumalagaram

The guideline value plays a crucial role during the registration process of property transactions in Perumalagaram. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vadanoobal Pillaiar Koil Street?

The current guideline value of Vadanoobal Pillaiar Koil Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,970 per sq.ft in 2024, marking a 10% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

What is the land classification for Vadanoobal Pillaiar Koil Street?

Vadanoobal Pillaiar Koil Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300. The duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Vadanoobal Pillaiar Koil Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Vadanoobal Pillaiar Koil Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.