Guideline Value for ValMeegi Street Kundrakudi Nagar

ValMeegi Street Kundrakudi Nagar guideline value

The current guideline value of ValMeegi Street Kundrakudi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of ValMeegi Street Kundrakudi Nagar has changed

The guideline value for ValMeegi Street Kundrakudi Nagar has undergone several revisions over the years. Starting from Rs 249 per sq.ft in 2002, it increased to Rs 284 per sq.ft in 2003, marking a 14% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, which was a 217% increase. Following this, the value further escalated to Rs 3,500 per sq.ft in 2012, reflecting a substantial 289% increase. However, from 2012 to 2017, the value decreased to Rs 2,345 per sq.ft, representing a 33% decline. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,466%. There are no figures available for the revisions in the years not mentioned for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft, with the median value being Rs 3,900 per sq.ft. ValMeegi Street Kundrakudi Nagar's 2024 figure is equal to this median.

• Valluvar Street: Rs 3,900 per sq.ft (2024)
• vallMigi Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanjinathan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vallalar Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanuvampet - Pazhandiyamman Koil Street: Rs 3,900 per sq.ft (2024)
• Vanuvam Pettai 2nd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in ValMeegi Street Kundrakudi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ValMeegi Street Kundrakudi Nagar?

The Sub Registrar Office that covers ValMeegi Street Kundrakudi Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. It is essential to consider the guideline value when planning any property dealings in the area.

Frequently asked questions

What is the current guideline value of ValMeegi Street Kundrakudi Nagar?

The current guideline value of ValMeegi Street Kundrakudi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 249 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,466% across the years.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam with the same guideline value of Rs 3,900 per sq.ft include Valluvar Street, vallMigi Street (Nilamangai Nagar), Vanjinathan Street (Nilamangai Nagar), Vallalar Street (Nilamangai Nagar), Vanuvampet - Pazhandiyamman Koil Street, and Vanuvam Pettai 2nd Lane.

What is the role of the Sub Registrar Office in property transactions?

The Sub Registrar Office is responsible for registering property transactions and ensuring that the appropriate stamp duty and registration fees are collected based on the guideline value. It plays a crucial role in the legal documentation of property sales and purchases.

How is stamp duty calculated for properties in ValMeegi Street Kundrakudi Nagar?

Stamp duty for properties in ValMeegi Street Kundrakudi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,73,000.