Guideline Value for VADIVELU MUDALI 3RD CROSS STREET

Vadivelu Mudali 3rd Cross Street guideline value

The current guideline value of Vadivelu Mudali 3rd 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 the land classification is Residential Class II Type - I.

How the guideline value of Vadivelu Mudali 3rd Cross Street has changed

The guideline value for Vadivelu Mudali 3rd Cross Street has undergone several revisions over the years. In 2002, the value was Rs 550 per sq.ft, which increased to Rs 603 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 1,000 per sq.ft in 2007, and it further increased to Rs 4,000 per sq.ft in 2012. However, there was a decrease to Rs 2,680 per sq.ft in 2017. The value then rose to Rs 4,000 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 4,300 per sq.ft.

Between the revisions, the changes were notable. From 2002 to 2024, the overall increase was +682%. The value saw a +66% increase from 2003 to 2007 and a +300% rise from 2007 to 2012. However, there was a -33% decrease from 2012 to 2017. The value then experienced a +49% increase from 2017 to 2023, followed by an +8% increase from 2023 to 2024.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Vadivelu Mudali 3rd Cross Street above this median.

• Vadivelu Mudali 2nd Cross Street: Rs 4,300 per sq.ft (2024)
• Vadivelu Mudali Street: Rs 4,900 per sq.ft (2024)
• Vadivelu Mudali 1st Cross Street: Rs 4,300 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 3rd 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, making the total cost Rs 3,87,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations based on your specific property details.

Which Sub Registrar Office covers Vadivelu Mudali 3rd Cross Street?

The Sub Registrar Office that covers Vadivelu Mudali 3rd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Perambur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vadivelu Mudali 3rd Cross Street?

The current guideline value of Vadivelu Mudali 3rd 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 seen significant changes, starting from Rs 550 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, resulting in an overall increase of +682% over this period.

What are the nearby guideline values in Perambur?

In Perambur, the guideline values for other streets vary, with Vadivelu Mudali Street at Rs 4,900 per sq.ft and Uppandi Babu Street at Rs 1,600 per sq.ft, among others.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a 1,000 sq.ft plot, the total fees would be Rs 3,87,000.

Where is the Sub Registrar Office located for this street?

The Sub Registrar Office covering Vadivelu Mudali 3rd Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.