Guideline Value for Dr. Vaideeswaran Street

Dr. Vaideeswaran Street guideline value

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

How the guideline value of Dr. Vaideeswaran Street has changed

The guideline value for Dr. Vaideeswaran Street has undergone several revisions over the years. In 2002, the value was Rs 3,471 per sq.ft, which decreased to Rs 353 per sq.ft in 2003. The value then saw a modest increase to Rs 400 per sq.ft in 2007, followed by a significant rise to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017. The value increased substantially to Rs 1,500 per sq.ft in 2023 and has now been revised to Rs 1,650 per sq.ft in 2024.

Between the revisions, notable changes include a 90% decrease from 2002 to 2003, a 13% increase from 2003 to 2007, a 275% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, there has been a 52% decrease in the guideline value.

Guideline values in Naravarikuppam

Naravarikuppam has a total of 112 streets under the Redhills SRO, with 2024 guideline values 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, making the 2024 guideline value of Dr. Vaideeswaran Street equal to this median.

• Dr. Vaideeswaran 2nd Street: Rs 1,650 per sq.ft (2024)
• Dr. Vaideeswaran 1st 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, totaling Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Dr. Vaideeswaran Street?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Naravarikuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the public domain.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Dr. Vaideeswaran 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 significantly from Rs 3,471 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Dr. Vaideeswaran Street?

Dr. Vaideeswaran Street is classified as Residential Class II Type - I.

How is the stamp duty calculated for properties on this street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.

Where can I find the Sub Registrar Office for Dr. Vaideeswaran Street?

The Redhills Sub Registrar Office covers Dr. Vaideeswaran Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.