Guideline Value for Vadivudaiamman Nagar Main Street

Vadivudaiamman Nagar Main Street guideline value

The current guideline value of Vadivudaiamman Nagar Main Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Thandalkazhani village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vadivudaiamman Nagar Main Street has changed

The guideline value for Vadivudaiamman Nagar Main Street has undergone several revisions over the years. In 2007, the value was Rs 300 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2012, followed by a decrease to Rs 536 per sq.ft in 2017. The value then saw a substantial rise to Rs 800 per sq.ft in 2023, before reaching the current value of Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The 2012 to 2017 period saw a decrease of 33%, while the substantial increase from 2007 to 2012 was 167%. Overall, from 2007 to 2024, the guideline value has increased by 193%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thandalkazhani

In Thandalkazhani village, there are 27 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 660 to Rs 2,750 per sq.ft. The median guideline value is Rs 880 per sq.ft, which is the same as the current value for Vadivudaiamman Nagar Main Street.

• Veeran Alagumuthu 1st Street: Rs 880 per sq.ft (2024)
• Veeran Alagumuthu Street: Rs 880 per sq.ft (2024)
• Vetri Nagar: Rs 2,750 per sq.ft (2024)
• Thanigai Nagar: Rs 660 per sq.ft (2024)
• Sri Vadivudai Amman Nagar: Rs 880 per sq.ft (2024)
• Sathya Nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivudaiamman Nagar Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivudaiamman Nagar Main Street?

The Sub Registrar Office that covers Vadivudaiamman Nagar Main Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thandalkazhani, as it determines the minimum value at which properties can be registered. When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that these fees are based on the official valuation of the property.

Additionally, the guideline value helps maintain transparency in property transactions, as it provides a standardized measure for assessing property values across different streets and areas. This ensures that buyers and sellers are aware of the official valuation before proceeding with any transactions.

Frequently asked questions

What is the current guideline value of Vadivudaiamman Nagar Main Street?

The current guideline value of Vadivudaiamman Nagar Main Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What are the stamp duty and registration fees for property in Vadivudaiamman Nagar Main Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which office handles property registrations in Thandalkazhani?

The Redhills Sub Registrar Office handles property registrations in Thandalkazhani. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Vadivudaiamman Nagar Main Street?

Vadivudaiamman Nagar Main Street is classified as Residential Class II Type - I, which indicates its suitability for residential development.