Guideline Value for Vadiudaiamman Street

Vadiudaiamman Street guideline value

The current guideline value of Vadiudaiamman Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class IV Type - I.

How the guideline value of Vadiudaiamman Street has changed

The guideline value for Vadiudaiamman Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, this figure increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to the current value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Vadiudaiamman Street's 2024 figure is below this median.

• Vadivudaiamman Koil Street: Rs 2,500 per sq.ft (2024)
• Union Salai: Rs 1,900 per sq.ft (2024)
• Valluvar Cross Street: Rs 2,200 per sq.ft (2024)
• Valluvar Street: Rs 2,500 per sq.ft (2024)
• Valmiki Street: Rs 2,500 per sq.ft (2024)
• T.V. Nagar 3rd Line Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vadiudaiamman Street

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 amount to 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 duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadiudaiamman Street?

The Sub Registrar Office that covers Vadiudaiamman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vadiudaiamman Street?

The current guideline value of Vadiudaiamman Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is revised periodically, with the most recent revisions occurring in 2024, 2023, 2017, and 2012 for Vadiudaiamman Street.

What was the guideline value in 2017?

The guideline value for Vadiudaiamman Street in 2017 was Rs 1,340 per sq.ft.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be 7% of that amount.