Guideline Value for Vadivel Street, Moovendhar Nagar

Vadivel Street, Moovendhar Nagar guideline value

The current guideline value of Vadivel Street, Moovendhar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Pammal village and is classified as Residential Class II Type - II. The guideline value is determined by the Pammal Sub Registrar Office (SRO).

How the guideline value of Vadivel Street, Moovendhar Nagar has changed

The guideline value for Vadivel Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

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

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for Vadivel Street is below this median.

• Vadivel Street, H.L. Colony: Rs 2,530 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, Moovendhar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Please 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 detailed calculations.

Which Sub Registrar Office covers Vadivel Street, Moovendhar Nagar?

The Sub Registrar Office covering Vadivel Street, Moovendhar Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadivel Street, Moovendhar Nagar?

The current guideline value of Vadivel Street, Moovendhar Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% overall, with a 49% increase from 2017 to 2023 and a 10% increase from 2023 to 2024.

What is the land classification for Vadivel Street?

Vadivel Street is classified as Residential Class II Type - II, which is a designation for residential properties in the area.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vadivel Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 at a rate of 7%.