Guideline Value for VADANOOBAL ROAD 1ST CROSS STREET

Vadanoobal Road 1st Cross Street guideline value

The current guideline value of Vadanoobal Road 1st Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perumalagaram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Vadanoobal Road 1st Cross Street has changed

Over the years, the guideline value for Vadanoobal Road 1st Cross Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. However, the value significantly increased to Rs 2,700 per sq.ft in the 2023 revision and further rose to Rs 2,970 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Subsequently, there was a remarkable increase of 49% from 2017 to 2023. The value then increased by 10% from 2023 to 2024. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value for these streets is Rs 3,190 per sq.ft, placing the 2024 figure for Vadanoobal Road 1st Cross Street below this median.

• Vadanoobal Pillaiar Koil Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Main Road (Mayana Salai): 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 Road 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to 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 Road 1st Cross Street?

The Sub Registrar Office that covers Vadanoobal Road 1st Cross Street is the Chennai South Joint II Sub Registrar Office, located at the 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 is an essential factor in the property registration process in Perumalagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value will be referenced during the registration process. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Vadanoobal Road 1st Cross Street?

The current guideline value of Vadanoobal Road 1st Cross 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 2012 to Rs 1,809 per sq.ft in 2017, then to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Vadanoobal Road 1st Cross Street?

The land classification for Vadanoobal Road 1st Cross Street is Residential Class I Type - I.

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

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.

Which Sub Registrar Office covers this street?

The Chennai South Joint II Sub Registrar Office covers Vadanoobal Road 1st Cross Street, located at the Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.