Guideline Value for VANDIAMMAN KOIL STREET

Vandiamman Koil Street guideline value

The current guideline value of Vandiamman Koil Street is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Vandiamman Koil Street has changed

The guideline value for Vandiamman Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 3,100 per sq.ft. This was followed by a decrease to Rs 2,077 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 3,100 per sq.ft, and the latest revision in 2024 has set the value at Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed as follows: from Rs 2,077 per sq.ft in 2017 to Rs 3,100 per sq.ft in 2023 (an increase of 49%), then to Rs 3,400 per sq.ft in 2024 (an increase of 10%). There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, placing Vandiamman Koil Street's 2024 figure below this median.

• Vanniar Street: Rs 3,400 per sq.ft (2024)
• Vallalar Street (Kovil Land): Rs 3,400 per sq.ft (2024)
• U.R.Nagar / Streets: Rs 6,600 per sq.ft (2024)
• U.R.Nagar 'rukmani Street': Rs 6,600 per sq.ft (2024)
• U.R. Nagar (Facing Park Road): Rs 9,700 per sq.ft (2024)
• U.R.Nagar Extension: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vandiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total to Rs 3,06,000. It is important to note that 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 Vandiamman Koil Street?

The Sub Registrar Office that covers Vandiamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property being bought or sold.

When a property is registered, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Vandiamman Koil Street?

The current guideline value of Vandiamman Koil Street is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024. It was Rs 2,077 per sq.ft in 2017, showing significant changes over the years.

What are the stamp duty and registration fees for properties in Vandiamman Koil Street?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which Sub Registrar Office covers this street?

The Villivakkam Sub Registrar Office covers Vandiamman Koil Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Vandiamman Koil Street?

Vandiamman Koil Street is classified as Residential Class IV Type - II under the Villivakkam SRO.