Guideline Value for ME.AA.VAITHIYALIGAM SALAI

Me.Aa.Vaithiyaligam Salai guideline value

The current guideline value of Me.Aa.Vaithiyaligam Salai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Me.Aa.Vaithiyaligam Salai has changed

The guideline value for Me.Aa.Vaithiyaligam Salai has seen several revisions over the years. In 2003, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2007. The value then rose to Rs 1,500 per sq.ft in 2012, before dropping to Rs 1,005 per sq.ft in 2017. The 2023 revision set the guideline value at Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 1,700 per sq.ft.

From 2017 to 2023, there was a substantial increase of 49%, followed by a 13% increase from 2023 to 2024. The highest increase occurred from 2003 to 2007, with a remarkable 650% rise. Overall, from 2003 to 2024, the guideline value has increased by 1600%. The register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, making the current value of Me.Aa.Vaithiyaligam Salai below that median.

• Masilamani Thottam: Rs 1,700 per sq.ft (2024)
• Mohana Garden: Rs 2,200 per sq.ft (2024)
• Muneeswaran Cross Kulakarai Street: Rs 2,800 per sq.ft (2024)
• Muneeswaran Koil Street: Rs 2,800 per sq.ft (2024)
• Nanjunda Rao Road & Avenue: Rs 4,500 per sq.ft (2024)
• Kutbi Complex & Avenue: Rs 4,500 per sq.ft (2024)

Stamp duty and registration fee for property in Me.Aa.Vaithiyaligam Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. The duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Me.Aa.Vaithiyaligam Salai?

The Sub Registrar Office that covers Me.Aa.Vaithiyaligam Salai 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 information.

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

The guideline value is a crucial factor in property transactions in Enjambakkam, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Me.Aa.Vaithiyaligam Salai?

The current guideline value of Me.Aa.Vaithiyaligam Salai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, showing an overall increase of 1600% over this period.

What is the land classification for Me.Aa.Vaithiyaligam Salai?

Me.Aa.Vaithiyaligam Salai is classified as Residential Class IV Type - I.

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 registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 and a registration fee of Rs 34,000.