Guideline Value for VANDIKARA STREET

Vandikara Street guideline value

The current guideline value of Vandikara Street is Rs 8,250 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Vandikara Street has changed

The guideline value of Vandikara Street has seen significant changes over the years. In 2002, the guideline value was Rs 511 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 37% rise. The value then rose to Rs 1,000 per sq.ft in 2007, reflecting a 43% increase. In 2012, the value reached Rs 7,500 per sq.ft, a substantial 650% increase from the previous figure. However, the value dropped to Rs 5,025 per sq.ft in 2017, showing a decrease of 33%. The 2023 revision set the value at Rs 7,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 8,250 per sq.ft, a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1514%. The register has no figures for the years not mentioned in this summary.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, placing Vandikara Street's 2024 figure above that median.

• Valli Lane: Rs 3,080 per sq.ft (2024)
• Veeramamunivar Street: Rs 4,620 per sq.ft (2024)
• Thiruvasagam Street: Rs 3,520 per sq.ft (2024)
• Thiruvalluvar Street: Rs 4,620 per sq.ft (2024)
• Visalakshi Nagar 1st Cross St: Rs 6,610 per sq.ft (2024)
• Visalakshi Nagar 2nd Cross St: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Vandikara Street

For a 1,000 sq.ft plot at the current rate of Rs 8,250 per sq.ft, the guideline value amounts to Rs 82,50,000. The stamp duty at 7% would be Rs 5,77,500, and the registration fee at 2% would be Rs 1,65,000, bringing the total to Rs 7,42,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vandikara Street?

The Sub Registrar Office that covers Vandikara Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Ekkaduthangal. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers must be aware that the guideline value may influence the overall cost of the property transaction.

When registering a property, the guideline value serves as a benchmark for the minimum value at which the property can be registered. This ensures that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Vandikara Street?

The current guideline value of Vandikara Street is Rs 8,250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 511 per sq.ft in 2002 to Rs 8,250 per sq.ft in 2024, reflecting an overall increase of 1514% over this period.

What is the classification of Vandikara Street?

Vandikara Street is classified as Commercial Class I Type - I, indicating its commercial significance in the area.

What are the stamp duty rates applicable in Vandikara Street?

The stamp duty rate for property transactions in Vandikara Street is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vandikara Street located?

The Sub Registrar Office for Vandikara Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.