Guideline Value for VairaKula Street

VairaKula Street guideline value

The current guideline value of VairaKula Street is Rs 305 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of VairaKula Street has changed

The guideline value for VairaKula Street has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was then reduced to Rs 201 per sq.ft in 2017. Following this, the value increased significantly to Rs 300 per sq.ft in 2023. The latest revision in 2024 has raised the value to Rs 305 per sq.ft, marking a 2% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a slight increase of 2%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median guideline value is Rs 305 per sq.ft, which is equal to the 2024 figure for VairaKula Street.

• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 275 per sq.ft (2024)
• Viilage Bajanai Kovil Street: Rs 305 per sq.ft (2024)
• Thabalmedu: Rs 305 per sq.ft (2024)
• Vinayagar Kovil Street: Rs 275 per sq.ft (2024)
• V.M.R Nagar: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in VairaKula Street

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty at 7% would be Rs 21,350, and the registration fee at 2% would amount to Rs 6,100, bringing the total cost to Rs 27,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VairaKula Street?

The Sub Registrar Office that covers VairaKula Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of VairaKula Street?

The current guideline value of VairaKula Street is Rs 305 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 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 305 per sq.ft in 2024.

What is the land classification for VairaKula Street?

VairaKula Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for VairaKula Street?

The Sub Registrar Office for VairaKula Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Mambakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,05,000, the stamp duty would be Rs 21,350 at a rate of 7%.