Guideline Value for VAZHAI THOPPU

Vazhai Thoppu guideline value

The current guideline value of Vazhai Thoppu is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - III.

How the guideline value of Vazhai Thoppu has changed

The guideline value for Vazhai Thoppu has undergone several revisions over the years. The earliest figure recorded was Rs 557 per sq.ft in 2002. This increased to Rs 618 per sq.ft in 2003, marking an increase of 11%. In 2007, the value saw a significant rise to Rs 1,012 per sq.ft, which was a 64% increase from the previous year. The value then jumped dramatically to Rs 4,000 per sq.ft in 2012, reflecting a substantial increase of 295%.

Following the 2012 revision, the guideline value decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. However, this was followed by a notable increase to Rs 4,000 per sq.ft in 2023, and finally, the current guideline value is Rs 4,400 per sq.ft from the 2024 revision, which is a 10% increase from the previous year. There are no other revisions recorded for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Vazhai Thoppu is below this median.

• Velu Street Eastern Side Of Arya Gowda Road: Rs 7,700 per sq.ft (2024)
• Venkataraman Street: Rs 6,600 per sq.ft (2024)
• Vadivelpuram: Rs 6,600 per sq.ft (2024)
• Vijayaraghava Chari Ist Street: Rs 7,700 per sq.ft (2024)
• Thiruvengadam Street: Rs 6,600 per sq.ft (2024)
• Thiruveethi Amman Koil Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vazhai Thoppu

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. Please 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 Vazhai Thoppu?

The Sub Registrar Office covering Vazhai Thoppu is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mambalam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The guideline value is updated periodically, and it is essential to refer to the latest figures to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Vazhai Thoppu?

The current guideline value of Vazhai Thoppu is Rs 4,400 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 557 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 690% over the years.

What is the stamp duty rate for properties in Vazhai Thoppu?

The stamp duty rate for properties in Vazhai Thoppu is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the median guideline value in Mambalam?

The median guideline value in Mambalam is Rs 6,600 per sq.ft for the year 2024, with Vazhai Thoppu's guideline value being below this median.