Guideline Value for Dr. Vaideeswaran 2nd Street

Dr. Vaideeswaran 2nd Street guideline value

The current guideline value of Dr. Vaideeswaran 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Naravarikuppam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Dr. Vaideeswaran 2nd Street has changed

The guideline value for Dr. Vaideeswaran 2nd Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,005 per sq.ft. The 2023 revision raised it to Rs 1,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 1,650 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 275%. However, from 2012 to 2017, there was a decrease of 33%. Following that, from 2017 to 2023, the value rose by 49%, and the increase from 2023 to 2024 is 10%. Overall, from 2007 to 2024, there has been a substantial increase of 313%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Naravarikuppam

Naravarikuppam village has a total of 112 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of Dr. Vaideeswaran 2nd Street.

• Dr. Vaideeswaran 1st Street: Rs 1,650 per sq.ft (2024)
• Dr. Vaideeswaran Street: Rs 1,650 per sq.ft (2024)
• Dr. Varatharajanar Street: Rs 1,650 per sq.ft (2024)
• Durai Abdul Abha Sahib Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Kadhar Street: Rs 1,320 per sq.ft (2024)
• Durai Abdul Vahab Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Vaideeswaran 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Dr. Vaideeswaran 2nd Street?

The Sub Registrar Office that covers Dr. Vaideeswaran 2nd Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Naravarikuppam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is in compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Dr. Vaideeswaran 2nd Street?

The current guideline value of Dr. Vaideeswaran 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What is the stamp duty for property in Dr. Vaideeswaran 2nd Street?

The stamp duty for property in Dr. Vaideeswaran 2nd Street is 7% of the guideline value, which amounts to Rs 1,15,500 for a 1,000 sq.ft plot.

Which Sub Registrar Office handles registrations for this street?

The Redhills Sub Registrar Office handles registrations for Dr. Vaideeswaran 2nd Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the guideline values of other streets in Naravarikuppam?

Other streets in Naravarikuppam have varying guideline values, with some streets like Dr. Vaideeswaran 1st Street and Dr. Varatharajanar Street also having a 2024 value of Rs 1,650 per sq.ft.