Guideline Value for Vadivel Nagar

Vadivel Nagar guideline value

The current guideline value of Vadivel Nagar, located in Padiyanallur village under the Redhills SRO, is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vadivel Nagar has changed

The guideline value for Vadivel Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 44 per sq.ft. This increased significantly to Rs 200 per sq.ft in 2007, marking a change of +355%. The value then rose to Rs 1,200 per sq.ft in 2012, a substantial increase of +500%. However, it decreased to Rs 804 per sq.ft in 2017, reflecting a decline of -33%. The 2023 revision set the value at Rs 1,200 per sq.ft, which was then increased to Rs 1,320 per sq.ft in 2024, a rise of +10%.

Overall, from 2003 to 2024, the guideline value has increased by +2900%. The register does not provide a figure for Vadivel Nagar for the year 2002.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median value for these streets is Rs 770 per sq.ft, and Vadivel Nagar's 2024 figure is above this median.

• Vallalar Street: Rs 770 per sq.ft (2024)
• Vanchinathan Street: Rs 660 per sq.ft (2024)
• Veeramamunivar Street: Rs 770 per sq.ft (2024)
• Veerapandi Street: Rs 660 per sq.ft (2024)
• Thiyagaraya Street: Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivel Nagar?

The Sub Registrar Office that covers Vadivel Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padiyanallur. It helps determine the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. This value is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Vadivel Nagar?

The current guideline value of Vadivel Nagar is Rs 1,320 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, starting from Rs 44 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of +2900%.

What is the median guideline value in Padiyanallur?

The median guideline value for the 132 streets in Padiyanallur is Rs 770 per sq.ft, with Vadivel Nagar's value being above this median.

What are the stamp duty and registration fees for properties in Vadivel Nagar?

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles property registrations in Vadivel Nagar?

The Redhills Sub Registrar Office handles property registrations for Vadivel Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.