Guideline Value for VADIVELU MUDALI STREET

Vadivelu Mudali Street guideline value

The current guideline value of Vadivelu Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Vadivelu Mudali Street has changed

The guideline value for Vadivelu Mudali Street has seen several revisions over the years. In 2002, the value was Rs 604 per sq.ft, which increased to Rs 728 per sq.ft in 2003, marking a 21% increase. The value then rose to Rs 1,000 per sq.ft in 2007, a significant jump of 37%. By 2012, the value reached Rs 4,500 per sq.ft, reflecting a 350% increase from the previous revision. However, this value decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the value increased to Rs 4,500 per sq.ft, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, showing an increase of 9% from the previous year. There are no figures for revisions in years not listed in the register.

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. Vadivelu Mudali Street's 2024 figure is above this median.

• Vadivelu Mudali 3rd Cross Street: Rs 4,300 per sq.ft (2024)
• Vadivelu Mudali 2nd Cross Street: Rs 4,300 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivelu Mudali Street?

The Sub Registrar Office that covers Vadivelu Mudali 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 an essential factor in the registration process of property transactions in Perambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the legal value of the property for registration purposes. It is crucial for both buyers and sellers to be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vadivelu Mudali Street?

The current guideline value of Vadivelu Mudali Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 604 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 711% over the years.

What are the other streets in Perambur with their guideline values?

Other streets in Perambur include Vadivelu Mudali 3rd Cross Street, Vadivelu Mudali 2nd Cross Street, and Vadivelu Mudali 1st Cross Street, all at Rs 4,300 per sq.ft in 2024, along with Uppara Palayam at Rs 2,200 per sq.ft, and Uppandi Babu Street and Lane at Rs 1,600 per sq.ft.

How is the stamp duty calculated for properties in Vadivelu Mudali Street?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000.

Where can I find the Sub Registrar Office for Vadivelu Mudali Street?

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