Guideline Value for Vadavenni Amman Nagar Main Road

Vadavenni Amman Nagar Main Road guideline value

The current guideline value of Vadavenni Amman Nagar Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Nerkundram village, under the Virugambakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vadavenni Amman Nagar Main Road has changed

The guideline value for Vadavenni Amman Nagar Main Road has seen several revisions over the years. In 2002, the value was set at Rs 91 per sq.ft, which increased to Rs 101 per sq.ft in 2003. Following this, the value rose significantly to Rs 400 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, it decreased to Rs 1,340 per sq.ft in 2017 before rising again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft.

Between these revisions, there have been notable changes. From 2002 to 2003, the increase was +11%. The value surged by +296% from 2003 to 2007. A remarkable +400% increase was observed from 2007 to 2012. However, the value dropped by -33% from 2012 to 2017. The guideline value then increased by +49% from 2017 to 2023, and finally, there was a +10% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +2318%.

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Vadavenni Amman Nagar Main Road.

• Vadavenni Amman Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vadavenni Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Valliammai Nagar 10th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 11th Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Valliammai Nagar 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vadavenni Amman Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadavenni Amman Nagar Main Road?

The Sub Registrar Office that covers Vadavenni Amman Nagar Main Road is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Nerkundram. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The amount of duty is calculated based on the higher of the guideline value or the sale price of the property.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Vadavenni Amman Nagar Main Road?

The current guideline value of Vadavenni Amman Nagar Main Road is Rs 2,200 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 91 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +2318% over the years.

What is the stamp duty rate for properties in Vadavenni Amman Nagar Main Road?

The stamp duty rate for properties in Vadavenni Amman Nagar Main Road is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Vadavenni Amman Nagar Main Road?

The Sub Registrar Office for Vadavenni Amman Nagar Main Road is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Vadavenni Amman Nagar Main Road?

Vadavenni Amman Nagar Main Road is classified as Residential Class IV Type - I, indicating its suitability for residential development.