Guideline Value for Vadakku Thirumalai Nagar 3rd to 6th Street

Vadakku Thirumalai Nagar 3rd to 6th Street guideline value

The current guideline value for Vadakku Thirumalai Nagar 3rd to 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Malligaicherry village under the Konnur SRO and falls under the Residential Class I Type - I land classification.

How the guideline value of Vadakku Thirumalai Nagar 3rd to 6th Street has changed

The guideline value for Vadakku Thirumalai Nagar 3rd to 6th Street has seen significant changes over the years. In 2002, the guideline value was Rs 311 per sq.ft. This increased to Rs 470 per sq.ft in 2003, marking a 51% rise. The value then rose to Rs 800 per sq.ft in 2007, reflecting a 70% increase. In 2012, the value reached Rs 2,500 per sq.ft, which was a substantial 213% increase from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, showing a decline of 33%. The value increased again to Rs 2,500 per sq.ft in 2023, before reaching the current value of Rs 2,750 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 784%. The register has no figure for this street in the years not mentioned in the revisions.

Guideline values in Malligaicherry

In Malligaicherry, there are 49 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, placing Vadakku Thirumalai Nagar 3rd to 6th Street above that median.

• Vadakku Thirumalai Nagar: Rs 2,750 per sq.ft (2024)
• Vadakku Thirumalai Nagar First Lane: Rs 2,750 per sq.ft (2024)
• Vadakku Thirumalai Nagar Second Lane: Rs 2,750 per sq.ft (2024)
• Thiruveethiamman Koil Street: Rs 2,400 per sq.ft (2024)
• Thiruveethiamman Koil Second Street: Rs 2,200 per sq.ft (2024)
• Thiruveethiamman Koil First Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vadakku Thirumalai Nagar 3rd to 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total costs together to Rs 2,47,500. Please note that the 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 Vadakku Thirumalai Nagar 3rd to 6th Street?

The Sub Registrar Office that covers Vadakku Thirumalai Nagar 3rd to 6th Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Malligaicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Vadakku Thirumalai Nagar 3rd to 6th Street?

The current guideline value for Vadakku Thirumalai Nagar 3rd to 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 311 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 784% over the years.

What is the role of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating stamp duty and registration fees during property transactions.

Where can I find the Sub Registrar Office for this area?

The Konnur Sub Registrar Office covers Vadakku Thirumalai Nagar 3rd to 6th Street and is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.