Guideline Value for Vadivel Street, H.L. Colony

Vadivel Street, H.L. Colony guideline value

The current guideline value of Vadivel Street, H.L. Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Vadivel Street, H.L. Colony has changed

The guideline value for Vadivel Street, H.L. Colony has seen significant changes over the years. The 2017 revision set the value at Rs 1,541 per sq.ft. This increased to Rs 2,300 per sq.ft in the 2023 revision, marking a 49% rise. The current value in the 2024 revision is Rs 2,530 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 2,090 per sq.ft, placing Vadivel Street, H.L. Colony's 2024 figure above that median.

• Vadivel Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Vadivelu Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vaidyalingam Street (Me.Aa.)/ Muthamzhi Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street, Gandhi Nagar Ext: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Vallalar Street / Sathya Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Street, H.L. Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total cost to Rs 2,27,700. It's important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivel Street, H.L. Colony?

The Sub Registrar Office that covers Vadivel Street, H.L. Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Pammal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the Registration Department and is used to assess the value of the property for tax purposes.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of transactions. Ensuring that the property is registered at its guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Vadivel Street, H.L. Colony?

The current guideline value of Vadivel Street, H.L. Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,541 per sq.ft in 2017 to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What is the land classification for Vadivel Street, H.L. Colony?

Vadivel Street, H.L. Colony is classified as Residential Class I Type - I. This classification indicates the type of residential development permitted in the area.

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

The Sub Registrar Office covering Vadivel Street, H.L. Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. This office handles registrations for properties in the area.

How is the stamp duty calculated for properties in Pammal?

Stamp duty for properties in Pammal is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.