Guideline Value for Vadugha Colony Ward No.5 Door No.1-8

Vadugha Colony Ward No.5 Door No.1-8 guideline value

The current guideline value for Vadugha Colony Ward No.5 Door No.1-8 is Rs 220 per sq.ft, effective from 1 July 2024. This property is located in Old Gummidipoondi village, under the Gummidipoondi SRO, and is classified as Residential Class V Type - III.

How the guideline value of Vadugha Colony Ward No.5 Door No.1-8 has changed

The guideline value for Vadugha Colony Ward No.5 Door No.1-8 has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 40 per sq.ft. This increased to Rs 46 per sq.ft in 2003, marking a 15% rise. The value then saw significant increases, reaching Rs 100 per sq.ft in 2007, which was a 117% increase from the previous revision. By 2012, the value was Rs 200 per sq.ft, reflecting a 100% increase from 2007. However, it dropped to Rs 134 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 200 per sq.ft in 2023, and finally, it is set at Rs 220 per sq.ft from the 2024 revision, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 450%. There are no figures available for the revisions in years other than those listed above for this street.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 1,210 per sq.ft. The median value is Rs 660 per sq.ft, indicating that Vadugha Colony Ward No.5 Door No.1-8's 2024 guideline value is below this median.

• Valliammai Nagar Ward No.8 Door No.1-3 Door 1-26b: Rs 330 per sq.ft (2024)
• vasantha Bazaar or Raliway station ward No 10 Door No 1-67B: Rs 660 per sq.ft (2024)
• Tirukulam Street Ward No.8 Door No.1-26b: Rs 330 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 660 per sq.ft (2024)
• Vettu Colony Ward No.4 Door No.1-69: Rs 660 per sq.ft (2024)
• Vettu Colony Ward No.5 Door No.70-88: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Vadugha Colony Ward No.5 Door No.1-8

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total costs together to Rs 19,800. Please 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 details.

Which Sub Registrar Office covers Vadugha Colony Ward No.5 Door No.1-8?

The Sub Registrar Office that covers Vadugha Colony Ward No.5 Door No.1-8 is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Old Gummidipoondi. It is used to determine the stamp duty and registration fees that need to be paid when a property is sold or purchased. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared against the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value for Vadugha Colony Ward No.5 Door No.1-8?

The current guideline value for Vadugha Colony Ward No.5 Door No.1-8 is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 40 per sq.ft in 2002 to Rs 220 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for this area?

Vadugha Colony Ward No.5 Door No.1-8 is classified as Residential Class V Type - III.

Where is the Gummidipoondi Sub Registrar Office located?

The Gummidipoondi Sub Registrar Office is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.

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

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400 at 7%.