Guideline Value for VADIVUDAIAMMAN NAGAR

Vadivudaiamman Nagar guideline value

The current guideline value of Vadivudaiamman Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 660 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Vadivudaiamman Nagar has changed

The guideline value for Vadivudaiamman Nagar has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then further to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a cumulative increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Pammathukulam

In Pammathukulam village, there are 101 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 825 per sq.ft. The median value for these streets is Rs 550 per sq.ft, making Vadivudaiamman Nagar's 2024 figure of Rs 660 per sq.ft above the median.

• Valli Nagar Annex: Rs 550 per sq.ft (2024)
• Varadhammal Nagar - II: Rs 660 per sq.ft (2024)
• Varathammal Nagar: Rs 440 per sq.ft (2024)
• Vasanth Nagar: Rs 550 per sq.ft (2024)
• Tippu Sulthan Nagar: Rs 550 per sq.ft (2024)
• Velan City: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivudaiamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is calculated at 7%, which totals Rs 46,200, while the registration fee at 2% comes to Rs 13,200. Together, the total cost for stamp duty and registration fee would be Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivudaiamman Nagar?

The Sub Registrar Office that covers Vadivudaiamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly, reflecting the official valuation set by the authorities. This valuation is crucial for both buyers and sellers to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Vadivudaiamman Nagar?

The current guideline value of Vadivudaiamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the median guideline value in Pammathukulam?

The median guideline value in Pammathukulam is Rs 550 per sq.ft, with Vadivudaiamman Nagar's value being above this median at Rs 660 per sq.ft.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for Vadivudaiamman Nagar?

The Sub Registrar Office for Vadivudaiamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.