Guideline Value for VADIVEL MUDALIYAR COLONY

Vadivel Mudaliyar Colony guideline value

The current guideline value of Vadivel Mudaliyar Colony is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Vadivel Mudaliyar Colony has changed

The guideline value for Vadivel Mudaliyar Colony has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft. This value decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase of 10% 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 Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which means that Vadivel Mudaliyar Colony's 2024 figure is below this median.

• Valleswaran Koil Street: Rs 2,200 per sq.ft (2024)
• Vallieswarar Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Tvs Emerald Peninsula: Rs 3,750 per sq.ft (2024)
• Thunai Sugathara Nilayam Salai: Rs 2,200 per sq.ft (2024)
• Thulukathamman Koil 3rd Street: Rs 1,650 per sq.ft (2024)
• Thulukathamman Koil 2nd Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Mudaliyar Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivel Mudaliyar Colony?

The Sub Registrar Office that covers Vadivel Mudaliyar Colony is 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 Manapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value as determined by the government. This helps in maintaining transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Vadivel Mudaliyar Colony?

The current guideline value of Vadivel Mudaliyar Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vadivel Mudaliyar Colony?

The land classification for Vadivel Mudaliyar Colony is Residential Class IV Type - I.

How does the guideline value compare to other streets in Manapakkam?

The guideline value of Vadivel Mudaliyar Colony at Rs 2,200 per sq.ft is below the median of Rs 2,530 per sq.ft for other streets in Manapakkam.

Where can I find the Sub Registrar Office for Vadivel Mudaliyar Colony?

The Sub Registrar Office for Vadivel Mudaliyar Colony is 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.