Guideline Value for VADARAYAN STREET

Vadarayan Street guideline value

The current guideline value of Vadarayan Street, located in Mathuranthagam village, is Rs 1,110 per sq.ft, effective from 1 July 2024. This property falls under the Residential Special Type - I land classification and is registered with the Madurandakam SRO.

How the guideline value of Vadarayan Street has changed

The guideline value for Vadarayan Street has seen several revisions over the years. The 2007 revision set the value at Rs 350 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 186%. However, the value decreased to Rs 670 per sq.ft in 2017, reflecting a drop of 33%. The subsequent revision in 2023 raised the value to Rs 1,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 1,110 per sq.ft, an increase of 11% from the previous year.

It is important to note that the register has no figures for Vadarayan Street for the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 217%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Vadarayan Street's 2024 figure at the median level.

• Vannia Mettu Street: Rs 1,110 per sq.ft (2024)
• Vanniayar Pettai Bhagavath Singh Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Kamban Street: Rs 555 per sq.ft (2024)
• Vanniyar Pettai Narayanan Street: Rs 1,110 per sq.ft (2024)
• Vanniyar Pettai Otthavaadai Street: Rs 1,110 per sq.ft (2024)
• Vedhachalam Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Vadarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,110 per sq.ft, the total guideline value would be Rs 11,10,000. The stamp duty at 7% would amount to Rs 77,700, and the registration fee at 2% would be Rs 22,200, bringing the total cost to Rs 99,900. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadarayan Street?

The Sub Registrar Office that covers Vadarayan Street is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Vadarayan Street?

The current guideline value of Vadarayan Street is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2007 to Rs 1,110 per sq.ft in 2024, reflecting an overall increase of 217% over this period.

What is the land classification for Vadarayan Street?

Vadarayan Street is classified as Residential Special Type - I, indicating its suitability for residential development.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Mathuranthagam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property with a guideline value of Rs 11,10,000, the stamp duty would be Rs 77,700 at a rate of 7%.