Guideline Value for VADANOOBAL ROAD 2ND CROSS STREET

Vadanoobal Road 2nd Cross Street guideline value

The current guideline value of Vadanoobal Road 2nd Cross 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 Road 2nd Cross Street has changed

The guideline value for Vadanoobal Road 2nd Cross Street has seen several revisions over the years. The earliest revision available is from 2012, which set the value at Rs 2,700 per sq.ft. This was followed by a decrease to Rs 1,809 per sq.ft in 2017. The value then increased significantly to Rs 2,700 per sq.ft in 2023, and further rose to the current value of Rs 2,970 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 2,700 in 2012 to Rs 1,809 in 2017, a decrease of 33%. Then, it increased by 49% to Rs 2,700 in 2023, and has increased by 10% to Rs 2,970 in 2024. The register has no figure for this street for the years 2002, 2003, and 2007.

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 is Rs 3,190 per sq.ft, placing Vadanoobal Road 2nd Cross Street's current value below this median.

• Vadanoobal Road 1st Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Road 3nd Cross Street: Rs 2,970 per sq.ft (2024)
• Vadanoobal Pillaiar Koil Street: Rs 2,970 per sq.ft (2024)
• Vadanoombal Cherry: Rs 2,970 per sq.ft (2024)
• Vadanoobal Main Road (Mayana Salai): 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 2nd 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 would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadanoobal Road 2nd Cross Street?

The Sub Registrar Office that covers Vadanoobal Road 2nd Cross 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 is a crucial factor during the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the appropriate fees are collected. This means that the higher value between the guideline value and the sale price will be used to calculate the stamp duty and registration fees.

Frequently asked questions

What is the current guideline value for Vadanoobal Road 2nd Cross Street?

The current guideline value for Vadanoobal Road 2nd 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 in 2012 to Rs 1,809 in 2017, then to Rs 2,700 in 2023, and currently stands at Rs 2,970 in 2024.

What is the median guideline value in Perumalagaram?

The median guideline value in Perumalagaram is Rs 3,190 per sq.ft, based on the 2024 figures for 74 streets under the Chennai South Joint II SRO.

What are the stamp duty and registration fees for a 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 office handles registrations for Vadanoobal Road 2nd Cross Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Vadanoobal Road 2nd Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.