Guideline Value for Vadavenni Amman Nagar 2nd Street

Vadavenni Amman Nagar 2nd Street guideline value

The current guideline value of Vadavenni Amman Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vadavenni Amman Nagar 2nd Street has changed

The guideline value for Vadavenni Amman Nagar 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 91 per sq.ft, which increased to Rs 101 per sq.ft in 2003, marking a rise of 11%. The value then surged significantly to Rs 400 per sq.ft in 2007, reflecting a remarkable increase of 296%. Following this, the value rose to Rs 2,000 per sq.ft in 2012, a jump of 400%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 2,000 per sq.ft in 2023, and most recently, it has been set at Rs 2,200 per sq.ft in 2024, a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,318%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Nerkundram

In Nerkundram village, there are 476 streets under the Virugambakkam SRO that have 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 2nd Street.

• Vadavenni Amman Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vadavenni Amman Nagar Main Road: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to 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.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vadavenni Amman Nagar 2nd Street?

The Vadavenni Amman Nagar 2nd Street falls under 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 is a crucial factor in the registration process when buying or selling property in Nerkundram. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the authorities.

When a property is sold, the buyer and seller must consider the guideline value during the registration process. The fees are calculated based on the higher of the guideline value or the sale price, which helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vadavenni Amman Nagar 2nd Street?

The current guideline value of Vadavenni Amman Nagar 2nd Street 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, representing an overall increase of 2,318% over the years.

What is the median guideline value for streets in Nerkundram?

The median guideline value for streets in Nerkundram is Rs 2,200 per sq.ft, which is the same as the guideline value for Vadavenni Amman Nagar 2nd Street.

What are the stamp duty and registration fees for property in Vadavenni Amman Nagar 2nd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 22,00,000, resulting in a stamp duty of Rs 1,54,000 and a registration fee of Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Vadavenni Amman Nagar 2nd Street?

The registration for Vadavenni Amman Nagar 2nd Street is handled by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.