Guideline Value for Vadamaracoir street

Vadamaracoir street guideline value

The current guideline value of Vadamaracoir street in Muthialpet village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Chennai North Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Vadamaracoir street has changed

The guideline value for Vadamaracoir street has seen several revisions over the years. The earliest recorded figure is Rs 905 per sq.ft in 2002, which increased to Rs 1,029 per sq.ft in 2003, marking a 14% rise. By 2007, the value had significantly increased to Rs 1,500 per sq.ft, reflecting a 46% change. The 2012 revision saw the value at Rs 5,000 per sq.ft, which was a substantial increase of 233% from the previous figure.

In 2017, the guideline value was revised to Rs 3,350 per sq.ft, a decrease of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, before reaching the current rate of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 508%. There are no revisions with no figure for this street in the register.

Guideline values in Muthialpet

In Muthialpet, there are 160 streets under the Chennai North Joint I SRO, with guideline values for 2024 ranging from Rs 3,800 to Rs 18,000 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, which matches the current guideline value for Vadamaracoir street.

• Valluvar Nagar(Thaniaar): Rs 3,800 per sq.ft (2024)
• Vaniar street (Oil Monger street): Rs 7,100 per sq.ft (2024)
• Varatharaj street: Rs 3,800 per sq.ft (2024)
• Velayudham street: Rs 3,800 per sq.ft (2024)
• Venkata Iyer lane: Rs 5,500 per sq.ft (2024)
• Venkata Iyer street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vadamaracoir street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadamaracoir street?

The Sub Registrar Office that covers Vadamaracoir street is the Chennai North Joint I Sub Registrar Office, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Muthialpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Vadamaracoir street?

The current guideline value of Vadamaracoir street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 905 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 508% over the years.

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

For a property valued at Rs 5,500 per sq.ft, the total guideline value for a 1,000 sq.ft plot would be Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Vadamaracoir street?

The Chennai North Joint I Sub Registrar Office covers Vadamaracoir street, located at Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-105.

What is the land classification for Vadamaracoir street?

Vadamaracoir street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.