Guideline Value for Vadivel Naicken Street Block 78

Vadivel Naicken Street Block 78 guideline value

The current guideline value for Vadivel Naicken Street Block 78 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class III Type - III land classification.

How the guideline value of Vadivel Naicken Street Block 78 has changed

The guideline value for Vadivel Naicken Street Block 78 has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 800 per sq.ft. This value saw a significant increase to Rs 4,000 per sq.ft in 2012, marking a change of +400%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which increased it to Rs 4,000 per sq.ft again. The latest revision in 2024 raised the guideline value to Rs 4,400 per sq.ft, reflecting a +10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2017 in the register for this street. Overall, the guideline value has increased by +450% from the 2007 figure to the current 2024 figure.

Guideline values in Kodambakkam

In Kodambakkam, there are 1031 streets under the Ashok Nagar SRO that carry 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, placing Vadivel Naicken Street Block 78's 2024 figure below this median.

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

Stamp duty and registration fee for property in Vadivel Naicken Street Block 78

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivel Naicken Street Block 78?

The Sub Registrar Office that covers Vadivel Naicken Street Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on the guideline value. This ensures that the government receives revenue from property transactions and helps maintain transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Vadivel Naicken Street Block 78?

The current guideline value of Vadivel Naicken Street Block 78 is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 800 per sq.ft to Rs 4,400 per sq.ft in 2024. The most significant change occurred between 2007 and 2012, where the value rose by +400%.

What is the land classification for Vadivel Naicken Street Block 78?

Vadivel Naicken Street Block 78 falls under the Residential Class III Type - III land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Vadivel Naicken Street Block 78 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty for properties in Kodambakkam is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at the rate of 7%.