Guideline Value for VADIVELPURAM

Vadivelpuram guideline value

The current guideline value of Vadivelpuram is Rs 6,600 per sq.ft, effective from 1 July 2024. This area is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Vadivelpuram has changed

The guideline value for Vadivelpuram has seen several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 912 per sq.ft. In 2003, it increased to Rs 1,012 per sq.ft, marking an 11% rise. The value then rose significantly to Rs 2,000 per sq.ft in 2007, reflecting a 98% increase. Following this, in 2012, the value saw a jump to Rs 6,000 per sq.ft, which was a 200% increase. However, it dropped to Rs 4,020 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 6,000 per sq.ft in 2023, which was a 49% rise, and currently stands at Rs 6,600 per sq.ft from the 2024 revision, reflecting a 10% increase.

There are no figures available for revisions in years other than those mentioned. Overall, from 2002 to 2024, the guideline value has increased by 624%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value for Vadivelpuram.

• Vazhai Thoppu: Rs 4,400 per sq.ft (2024)
• Velu Street Eastern Side Of Arya Gowda Road: Rs 7,700 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 6,600 per sq.ft (2024)
• Venkataraman Street: Rs 6,600 per sq.ft (2024)
• Vijayaraghava Chari Ist Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivelpuram

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. The duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivelpuram?

The Sub Registrar Office that covers Vadivelpuram is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the authorities use the guideline value to assess the applicable fees. This ensures that the transaction is recorded accurately and that the correct amount of duty is collected based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vadivelpuram?

The current guideline value of Vadivelpuram is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 912 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 624%.

What is the land classification for Vadivelpuram?

Vadivelpuram is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property in Vadivelpuram?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 66,00,000, the total fees would amount to Rs 5,94,000.

Where is the Sub Registrar Office for Vadivelpuram located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.