Guideline Value for Vaigundha Perumal Koil Street

Vaigundha Perumal Koil Street guideline value

The current guideline value of Vaigundha Perumal Koil Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vaigundha Perumal Koil Street has changed

The guideline value for Vaigundha Perumal Koil Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 880 per sq.ft, an increase from Rs 800 per sq.ft in 2023, which represents a 10% rise. Prior to that, the 2017 revision recorded a guideline value of Rs 536 per sq.ft, marking a significant increase of 49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 880 per sq.ft, which is equal to the current value of Vaigundha Perumal Koil Street.

• Udhayam Nagar Extn: Rs 880 per sq.ft (2024)
• Udayam Nagar: Rs 880 per sq.ft (2024)
• Velankanni Nagar: Rs 770 per sq.ft (2024)
• Thiru Vi Ka Street: Rs 880 per sq.ft (2024)
• Vignesh Avenue: Rs 770 per sq.ft (2024)
• Thirumalai Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigundha Perumal Koil 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, charged at 7%, would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaigundha Perumal Koil Street?

The Sub Registrar Office covering Vaigundha Perumal Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

To locate your nearest office, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Manimangalam A. It serves as a reference point for determining the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vaigundha Perumal Koil Street?

The current guideline value of Vaigundha Perumal Koil Street is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification of Vaigundha Perumal Koil Street?

Vaigundha Perumal Koil Street is classified as Residential Class I Type - I.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 8,80,000, the stamp duty would be Rs 61,600 at a rate of 7%.