Guideline Value for Vadivelpuram Block 84, 85

Vadivelpuram Block 84, 85 guideline value

The current guideline value for Vadivelpuram Block 84, 85 is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village, under the Ashok Nagar Sub Registrar Office (SRO). The land classification for this block is Residential Class IV Type - I.

How the guideline value of Vadivelpuram Block 84, 85 has changed

Over the years, the guideline value for Vadivelpuram Block 84, 85 has seen significant changes. The earliest recorded revision was in 2007, with a guideline value of Rs 800 per sq.ft. This figure increased dramatically to Rs 3,750 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 has raised the guideline value to Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

From 2007 to 2012, the guideline value surged by 369%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the increase amounts to 413%. It is important to note that the register has no figure for this street for the years 2002, 2003, and 2017.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values 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 Vadivelpuram Block 84, 85's 2024 figure below that median.

• Vadivel Naicken Street Block 78: Rs 4,400 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 Vadivelpuram Block 84, 85

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total fees to Rs 3,69,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vadivelpuram Block 84, 85?

The Sub Registrar Office that covers Vadivelpuram Block 84, 85 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted transparently and fairly.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions based on current market conditions.

Frequently asked questions

What is the current guideline value for Vadivelpuram Block 84, 85?

The current guideline value for Vadivelpuram Block 84, 85 is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413% over these years.

What is the land classification for Vadivelpuram Block 84, 85?

The land classification for Vadivelpuram Block 84, 85 is Residential Class IV Type - I.

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

The Sub Registrar Office for Vadivelpuram Block 84, 85 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 at a rate of 7%.