Guideline Value for Vadivelu Street Block 76

Vadivelu Street Block 76 guideline value

The current guideline value of Vadivelu Street Block 76 is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vadivelu Street Block 76 has changed

The guideline value for Vadivelu Street Block 76 has seen several revisions over the years. In 2007, the guideline value was set at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012. However, this figure dropped to Rs 2,512 per sq.ft in 2017, before rising again to Rs 3,750 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 4,100 per sq.ft, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 413%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with 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, making the current value of Vadivelu Street Block 76 below that median.

• Vadivelpuram Block 84, 85: Rs 4,100 per sq.ft (2024)
• Vadivel Naicken Street Block 78: Rs 4,400 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 Vadivelu Street Block 76

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. 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 Vadivelu Street Block 76?

The Sub Registrar Office covering Vadivelu Street Block 76 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives the appropriate revenue from property transactions.

When selling property, the guideline value helps establish a baseline for the sale price. Buyers and sellers often refer to the guideline value to negotiate terms and ensure that the sale complies with regulatory requirements.

Frequently asked questions

What is the current guideline value of Vadivelu Street Block 76?

The current guideline value of Vadivelu Street Block 76 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 changed significantly over the years, increasing from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of 413%.

What is the land classification for Vadivelu Street Block 76?

The land classification for Vadivelu Street Block 76 is Residential Class IV Type - I.

Where is the Sub Registrar Office for Vadivelu Street Block 76 located?

The Sub Registrar Office for Vadivelu Street Block 76 is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for property in Vadivelu Street Block 76?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 3,69,000.