Guideline Value for Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85

Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85 guideline value

The current guideline value for Vadhiyar Subbaraya Mudali Street (V.S.Garden Street) Block 85 is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85 has changed

The guideline value for Vadhiyar Subbaraya Mudali Street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,090 per sq.ft, which increased to Rs 5,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 saw a significant increase to Rs 5,500 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 163%. Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, positioning Vadhiyar Subbaraya Mudali Street's 2024 figure above this median.

• Vadhiyar Subbaraya Mudali Street (V.S.Mudali Street): Rs 5,500 per sq.ft (2024)
• Vadhiyar Subramaniyar Mudali Street Bk 80,84: Rs 5,500 per sq.ft (2024)
• Vadivel Naicken Street Block 78: Rs 4,400 per sq.ft (2024)
• Vadivelpuram Block 84, 85: Rs 4,100 per sq.ft (2024)
• Vadivelu Street Block 76: Rs 4,100 per sq.ft (2024)
• Valayapathi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadhiyar Subbaraya Mudali Street(V.S.Garden Street) Block 85?

The Vadhiyar Subbaraya Mudali Street (V.S.Garden Street) Block 85 is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than the negotiated sale price, which may vary significantly.

Frequently asked questions

What is the current guideline value for Vadhiyar Subbaraya Mudali Street?

The current guideline value for Vadhiyar Subbaraya Mudali Street (V.S.Garden Street) Block 85 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 2,090 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, an overall increase of 163%. The value remained at Rs 5,000 per sq.ft in both the 2012 and 2023 revisions.

What are the stamp duty and registration fees for property transactions?

For a property valued at 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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in this area?

The Ashok Nagar Sub Registrar Office handles property registrations for Vadhiyar Subbaraya Mudali Street (V.S.Garden Street) Block 85. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for this street?

The land classification for Vadhiyar Subbaraya Mudali Street (V.S.Garden Street) Block 85 is Residential Class III Type - I, indicating its suitability for residential development.