Guideline Value for Vithiyammigai Street

Vithiyammigai Street guideline value

The current guideline value of Vithiyammigai Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village under the Padappai SRO, and it is classified as Residential Class II Type - I.

How the guideline value of Vithiyammigai Street has changed

In the 2012 revision, the guideline value was Rs 1,100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 737 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,100 per sq.ft in the 2023 revision, representing a 49% rise. The current 2024 revision shows a further increase to Rs 1,210 per sq.ft, which is a 10% rise from the previous year.

The register has no figures for Vithiyammigai Street for the years 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Vithiyammigai Street is below this median.

• Vivekanandar Street: Rs 1,210 per sq.ft (2024)
• VOC Street: Rs 1,210 per sq.ft (2024)
• Vidhyalakshmi Street: Rs 1,210 per sq.ft (2024)
• Venkatheri Nagar: Rs 1,210 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Vithiyammigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, leading to a total of Rs 1,08,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vithiyammigai Street?

The Sub Registrar Office that covers Vithiyammigai Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is registered at a value that reflects the official rates set by the government. This process aids in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vithiyammigai Street?

The current guideline value of Vithiyammigai Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What is the land classification for Vithiyammigai Street?

Vithiyammigai Street is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

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

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

How is the stamp duty calculated for properties in Mudichur?

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 12,10,000, the stamp duty would be calculated at 7% of that amount.