Guideline Value for Vadivudaiamman Street (Gandhi Nagar)

Vadivudaiamman Street (Gandhi Nagar) guideline value

The current guideline value of Vadivudaiamman Street (Gandhi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vadivudaiamman Street (Gandhi Nagar) has changed

The guideline value for Vadivudaiamman Street (Gandhi Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later increased to Rs 2,700 per sq.ft in the 2024 revision, marking an increase of 8%. The register has no figure for the years 2002, 2003, 2007, 2017, and 2023.

From 2012 to 2024, the guideline value increased from Rs 2,500 to Rs 2,700 per sq.ft. This increase reflects the adjustments made in the guideline values for the area, aligning with the overall trends observed in the Kodungaiyur region.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Vadivudaiamman Street (Gandhi Nagar).

• Union Road: Rs 2,700 per sq.ft (2024)
• Union Carbide Employees Co-optex Colony: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 9th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 8th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Union Carbide Colony 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivudaiamman Street (Gandhi Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vadivudaiamman Street (Gandhi Nagar)?

The Sub Registrar Office that covers Vadivudaiamman Street (Gandhi Nagar) 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 Kodungaiyur

The guideline value plays a crucial role during the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value according to the established rates.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are mandatory for the legal transfer of ownership. This ensures transparency and compliance with local regulations, protecting both buyers and sellers in the process.

Frequently asked questions

What is the current guideline value of Vadivudaiamman Street (Gandhi Nagar)?

The current guideline value of Vadivudaiamman Street (Gandhi Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8%. The register has no figures for the years 2003, 2007, 2017, and 2023.

What is the land classification of Vadivudaiamman Street (Gandhi Nagar)?

Vadivudaiamman Street (Gandhi Nagar) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. This is calculated based on the guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.