Guideline Value for VADIVELU MUDALI 1ST CROSS STREET

Vadivelu Mudali 1st Cross Street guideline value

The current guideline value of Vadivelu Mudali 1st Cross Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vadivelu Mudali 1st Cross Street has changed

Over the years, the guideline value of Vadivelu Mudali 1st Cross Street has seen significant changes. In 2002, the guideline value was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003. Following that, the value rose to Rs 1,000 per sq.ft in 2007, and then saw a substantial increase to Rs 4,000 per sq.ft in 2012. However, this figure dropped to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023 and further to Rs 4,300 per sq.ft in 2024.

The changes between the revisions show a notable increase of 8% from 2023 to 2024. The period from 2017 to 2023 saw a significant rise of 49%. The value fluctuated from 2012 to 2017 with a decrease of 33%. From 2007 to 2012, there was a remarkable increase of 300%, and from 2003 to 2007, the value increased by 117%. Overall, from 2002 to 2024, the guideline value has increased by 924%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Vadivelu Mudali 1st Cross Street's 2024 value above this median.

• Vadivelu Mudali 2nd Cross Street: Rs 4,300 per sq.ft (2024)
• Vadivelu Mudali 3rd Cross Street: Rs 4,300 per sq.ft (2024)
• Vadivelu Mudali Street: Rs 4,900 per sq.ft (2024)
• Uppara Palayam: Rs 2,200 per sq.ft (2024)
• Uppandi Babu Street: Rs 1,600 per sq.ft (2024)
• Uppandi Babu Lane: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivelu Mudali 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivelu Mudali 1st Cross Street?

The Sub Registrar Office that covers Vadivelu Mudali 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum price at which properties can be sold and is used to calculate the applicable stamp duty and registration fees.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two values is used to assess the stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadivelu Mudali 1st Cross Street?

The current guideline value of Vadivelu Mudali 1st Cross Street is Rs 4,300 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 420 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, representing an overall increase of 924% over this period.

What is the land classification for Vadivelu Mudali 1st Cross Street?

Vadivelu Mudali 1st Cross Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Vadivelu Mudali 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 at a rate of 7%.