Guideline Value for ME.AA.VAIDYALINGAM STREET

Me.Aa.Vaidyalingam Street guideline value

The current guideline value of Me.Aa.Vaidyalingam Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of Me.Aa.Vaidyalingam Street has changed

The guideline value for Me.Aa.Vaidyalingam Street has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of Me.Aa.Vaidyalingam Street.

• Medavakkam Road: Rs 7,100 per sq.ft (2024)
• Medavakkam Road Cross Street: Rs 7,100 per sq.ft (2024)
• Mayana Pathai: Rs 1,700 per sq.ft (2024)
• Mark Garden: Rs 1,700 per sq.ft (2024)
• Marbhi Street: Rs 1,700 per sq.ft (2024)
• M.G.R. 10th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Me.Aa.Vaidyalingam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the 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 Me.Aa.Vaidyalingam Street?

The Sub Registrar Office that covers Me.Aa.Vaidyalingam Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring transparency in property dealings.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the fees are based on the established value of the property rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Me.Aa.Vaidyalingam Street?

The current guideline value of Me.Aa.Vaidyalingam Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a 64% overall increase. The most recent revision in 2024 shows a 10% increase from the previous year.

What is the land classification for Me.Aa.Vaidyalingam Street?

Me.Aa.Vaidyalingam Street is classified as Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for properties in Me.Aa.Vaidyalingam Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,54,000.