Guideline Value for VADIVELU MUDALI 2ND CROSS STREET

Vadivelu Mudali 2nd Cross Street guideline value

The current guideline value of Vadivelu Mudali 2nd 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vadivelu Mudali 2nd Cross Street has changed

The guideline value for Vadivelu Mudali 2nd Cross Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 420 per sq.ft, which increased to Rs 461 per sq.ft in 2003, marking a 10% rise. Following this, the value surged significantly to Rs 1,000 per sq.ft in 2007, reflecting an increase of 117%. In 2012, the value remained at Rs 4,000 per sq.ft, but then saw a decrease of 33% to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current figure of Rs 4,300 per sq.ft in 2024, an increase of 8% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 924%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Vadivelu Mudali 2nd Cross Street is above this median.

• Vadivelu Mudali 1st 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 2nd 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. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vadivelu Mudali 2nd Cross Street?

The Sub Registrar Office that covers Vadivelu Mudali 2nd 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 during the registration of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware of the guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Vadivelu Mudali 2nd Cross Street?

The current guideline value of Vadivelu Mudali 2nd 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%.

What is the land classification for Vadivelu Mudali 2nd Cross Street?

The land classification for Vadivelu Mudali 2nd Cross Street is Residential Class II Type - I.

Where is the Sub Registrar Office located for this street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covering Vadivelu Mudali 2nd Cross Street.

How is the stamp duty calculated for property in Vadivelu Mudali 2nd Cross Street?

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