Guideline Value for VADIVEL NAGAR

Vadivel Nagar guideline value

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

How the guideline value of Vadivel Nagar has changed

The guideline value for Vadivel Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 300 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 733%. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The value then increased to Rs 2,500 per sq.ft in 2023, with a notable rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 817%.

Guideline values in Nanmangalam

In Nanmangalam, there are 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value is Rs 2,750 per sq.ft, which is the same as the guideline value for Vadivel Nagar. Below are the guideline values for other streets in Nanmangalam:

• Vadivel Nagar 1 To 3 Streets: 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

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, while the registration fee at 2% would be Rs 55,000. Together, these fees would total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivel Nagar?

The Sub Registrar Office that covers Vadivel Nagar 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 information.

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

The guideline value is a crucial factor in property transactions in Nanmangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees payable at the time of registration. It serves as a benchmark for the minimum value at which properties can be registered.

In addition to determining fees, the guideline value also plays a role in ensuring transparency in property transactions. Buyers and sellers can refer to the guideline value to understand the pricing of properties in the area, which helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vadivel Nagar?

The current guideline value of Vadivel Nagar 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 300 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 817% over this period.

What are the stamp duty and registration fees in Vadivel Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 2,47,500.

Which Sub Registrar Office covers Vadivel Nagar?

The Pallavaram Sub Registrar Office covers Vadivel Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Where can I find more information on the guideline values?

More information on the guideline values can be found in the Registration Department's guideline value register (TNReginet) or by visiting the relevant links provided for each street in Nanmangalam.