Guideline Value for Vadivel Street

Vadivel Street guideline value

The current guideline value of Vadivel Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vadivel Street has changed

The guideline value for Vadivel Street has seen several revisions over the years. In 2002, the guideline value was Rs 113 per sq.ft. This increased to Rs 476 per sq.ft in 2003, marking a significant rise of 321%. The value then dropped to Rs 400 per sq.ft in 2007, a decrease of 16%. In 2012, the guideline value was Rs 3,000 per sq.ft, which represented a substantial increase of 650% from the previous revision. However, it fell to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 2820%. There are no figures available for the revisions in the years not mentioned in this summary.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vadivel Street.

• Vaigai Nagar: Rs 2,200 per sq.ft (2024)
• Vaigai Street: Rs 2,200 per sq.ft (2024)
• T.K. Chetty Street: Rs 1,320 per sq.ft (2024)
• Vanilarasu Street: Rs 4,400 per sq.ft (2024)
• Vasantham nagar: Rs 2,200 per sq.ft (2024)
• Vasantham nagar Ext: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivel Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivel Street?

The Sub Registrar Office that covers Vadivel Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role during property registration in Tambaram. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The higher of the guideline value and the sale price is considered for calculating these fees.

When a buyer or seller approaches the Sub Registrar Office, the guideline value is referenced to ensure that the correct fees are applied. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vadivel Street?

The current guideline value of Vadivel Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 113 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with various increases and decreases in between, including a significant rise of 2820% overall.

What is the stamp duty rate for property in Vadivel Street?

The stamp duty rate for property transactions in Vadivel Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vadivel Street located?

The Sub Registrar Office for Vadivel Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

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

Other streets in Tambaram include Vaigai Nagar and Vaigai Street at Rs 2,200 per sq.ft, T.K. Chetty Street at Rs 1,320 per sq.ft, Vanilarasu Street at Rs 4,400 per sq.ft, and Vasantham nagar at Rs 2,200 per sq.ft.