Guideline Value for VADUGU IDAYAR STREET

Vadugu Idayar Street guideline value

The current guideline value of Vadugu Idayar Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Vadugu Idayar Street has changed

The guideline value for Vadugu Idayar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 699 per sq.ft. This amount increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value saw a significant rise to Rs 1,540 per sq.ft in 2007, which was a 98% increase. Following this, the guideline value jumped to Rs 6,500 per sq.ft in 2012, reflecting a substantial increase of 322%. However, it then decreased to Rs 4,355 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 6,500 per sq.ft in 2023, and finally, it reached Rs 7,100 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

There are no figures available for the revisions in years other than those listed above. Overall, from 2002 to 2024, the guideline value has increased by 916%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value of Vadugu Idayar Street is below this median.

• Vadhyar Annamalai Street: Rs 7,100 per sq.ft (2024)
• Vaikkol Thotti: Rs 3,300 per sq.ft (2024)
• Vadakoor Selva Vinayagar Koil Street: Rs 9,300 per sq.ft (2024)
• Vadakoor Selva Vinayagar Koil Lane: Rs 7,100 per sq.ft (2024)
• Vaaleeswarar Koil Street: Rs 3,300 per sq.ft (2024)
• Valeeswaran Koil Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vadugu Idayar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 Vadugu Idayar Street?

The Sub Registrar Office that covers Vadugu Idayar Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Mylapore. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consider the guideline value as it affects the overall cost of registration. Understanding the guideline value can help buyers and sellers make informed decisions during the property transaction process.

Frequently asked questions

What is the current guideline value of Vadugu Idayar Street?

The current guideline value of Vadugu Idayar Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 916% over these years.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office covers Vadugu Idayar Street?

The Mylapore Sub Registrar Office covers Vadugu Idayar Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Vadugu Idayar Street?

Vadugu Idayar Street is classified as Residential Class IV Type - III according to the current guidelines.