Guideline Value for VADIVEL NAGAR 1 TO 3 STREETS

Vadivel Nagar 1 To 3 Streets guideline value

The current guideline value for Vadivel Nagar 1 To 3 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nanmangalam village and falls under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Vadivel Nagar 1 To 3 Streets has changed

The guideline value for Vadivel Nagar 1 To 3 Streets has seen several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 set it at Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 10%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as of 2024. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the guideline value for Vadivel Nagar 1 To 3 Streets.

• Vadivel Nagar: Rs 2,750 per sq.ft (2024)
• Vadivel Nagar Extn.: Rs 2,750 per sq.ft (2024)
• Vairavan Street: Rs 2,750 per sq.ft (2024)
• Vallalar Street: Rs 1,960 per sq.ft (2024)
• Ujeevana Nagar: Rs 3,300 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Nagar 1 To 3 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vadivel Nagar 1 To 3 Streets?

The Sub Registrar Office that covers Vadivel Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the total costs associated with the transaction, ensuring that the fees are based on a standardized value for the property.

Frequently asked questions

What is the current guideline value for Vadivel Nagar 1 To 3 Streets?

The current guideline value for Vadivel Nagar 1 To 3 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. It was Rs 1,675 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What is the land classification for Vadivel Nagar 1 To 3 Streets?

Vadivel Nagar 1 To 3 Streets is classified as Residential Class I Type - I. This classification is important for determining the applicable guidelines and regulations for property transactions.

What are the stamp duty rates for property transactions in Vadivel Nagar 1 To 3 Streets?

The stamp duty for property transactions in Vadivel Nagar is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable to the transaction.

Where can I find the Sub Registrar Office for Vadivel Nagar 1 To 3 Streets?

The Sub Registrar Office for Vadivel Nagar 1 To 3 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.