Guideline Value for Vadivambal Nagar

Vadivambal Nagar guideline value

The current guideline value of Vadivambal Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Molachoor village and falls under the Sunguvarchattram SRO. The land classification for this region is Residential Special Type - III.

How the guideline value of Vadivambal Nagar has changed

Since the 2007 revision, the guideline value for Vadivambal Nagar has seen a significant increase. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The value remained at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The overall increase from 2007 to 2024 is 140%.

From 2017 to 2023, there was a notable increase of 49%. The 2012 to 2017 period saw a decrease of 33%. The revisions for the years 2002 and 2003 do not have figures listed for this street, according to the register.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that have a guideline value for 2024, ranging from Rs 300 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, which is equal to the current value of Vadivambal Nagar.

• VallaKottai Murugan Nagar: Rs 605 per sq.ft (2024)
• Vallalar Street: Rs 600 per sq.ft (2024)
• Thornas Street: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 600 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 300 per sq.ft (2024)
• Thiruvallur Road (Up to Anthaiya Naidu Nagar): Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivambal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total cost for these fees Rs 54,000. 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 more detailed calculations.

Which Sub Registrar Office covers Vadivambal Nagar?

The Sub Registrar Office that covers Vadivambal Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vadivambal Nagar?

The current guideline value of Vadivambal Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 600 per sq.ft in 2024, showing an overall increase of 140% over the years.

What are the other streets in Molachoor with their guideline values?

Other streets in Molachoor include VallaKottai Murugan Nagar at Rs 605 per sq.ft, Vallalar Street at Rs 600 per sq.ft, and several others, with values ranging from Rs 300 to Rs 1,800 per sq.ft.

What are the fees associated with property registration in Vadivambal Nagar?

The fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Vadivambal Nagar?

The Sub Registrar Office for Vadivambal Nagar is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.