Guideline Value for M.A.VAITHILINGAM ROAD

M.A.Vaithilingam Road guideline value

The current guideline value of M.A.Vaithilingam Road is Rs 1,000 per sq.ft, effective from 1 July 2024. This road is located in Karapakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of M.A.Vaithilingam Road has changed

The guideline value for M.A.Vaithilingam Road has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 500 per sq.ft, which increased to Rs 750 per sq.ft in 2012. However, the value saw a significant decrease of 33% to Rs 502 per sq.ft in the 2017 revision. From 2017 to 2023, the value surged by 99%, bringing it back to Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 100%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. M.A.Vaithilingam Road's 2024 figure is below this median.

• Mayana Salai: Rs 1,000 per sq.ft (2024)
• Mariyadoss Garden: Rs 1,100 per sq.ft (2024)
• Marg Ltd.,: Rs 3,000 per sq.ft (2024)
• Manimekalai Nagar: Rs 1,700 per sq.ft (2024)
• M.G.R.Street: Rs 2,200 per sq.ft (2024)
• MIDDLE 1st CROSS STREET: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in M.A.Vaithilingam Road

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers M.A.Vaithilingam Road?

The Sub Registrar Office that covers M.A.Vaithilingam Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Karapakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the local market conditions as determined by the Registration Department. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of M.A.Vaithilingam Road?

The current guideline value of M.A.Vaithilingam Road is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a 100% increase over the period.

Which Sub Registrar Office is responsible for M.A.Vaithilingam Road?

The Neelankarai Sub Registrar Office is responsible for M.A.Vaithilingam Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating the applicable stamp duty and registration fees during property transactions.