Guideline Value for Vadivudaiamman Koil Street

Vadivudaiamman Koil Street guideline value

The current guideline value of Vadivudaiamman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, and it falls under the Residential Class III Type - I land classification.

How the guideline value of Vadivudaiamman Koil Street has changed

Over the years, the guideline value of Vadivudaiamman Koil Street has seen several revisions. The 2012 revision set the value at Rs 2,300 per sq.ft, which was a decrease of 33% from Rs 1,541 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,300 per sq.ft, and the most recent 2024 revision raised it to Rs 2,500 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is equal to the current value of Vadivudaiamman Koil Street.

• Vadiudaiamman Street: Rs 2,200 per sq.ft (2024)
• Union Salai: Rs 1,900 per sq.ft (2024)
• Valluvar Cross Street: Rs 2,200 per sq.ft (2024)
• Valluvar Street: Rs 2,500 per sq.ft (2024)
• Valmiki Street: Rs 2,500 per sq.ft (2024)
• T.V. Nagar 3rd Line Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivudaiamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadivudaiamman Koil Street?

The Sub Registrar Office that covers Vadivudaiamman Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and is used to calculate the applicable taxes. Buyers should be aware that the final registration fees will be based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vadivudaiamman Koil Street?

The current guideline value of Vadivudaiamman Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024, reflecting a 9% increase. It was Rs 1,541 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the land classification for Vadivudaiamman Koil Street?

Vadivudaiamman Koil Street is classified under Residential Class III Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 25,00,000, the total fees would amount to Rs 2,25,000.

Where can I find the Sub Registrar Office for Vadivudaiamman Koil Street?

The Madhavaram Sub Registrar Office covers Vadivudaiamman Koil Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.