Guideline Value for New Vaidhyanathan Street

New Vaidhyanathan Street guideline value

The current guideline value of New Vaidhyanathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Commercial Special Type - II.

How the guideline value of New Vaidhyanathan Street has changed

The guideline value of New Vaidhyanathan Street has seen several revisions over the years. The earliest recorded revision was in 2007, setting the value at Rs 1,200 per sq.ft. This value increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a substantial rise of 233%. The most recent revision in 2024 has further increased the guideline value to Rs 4,400 per sq.ft, which is a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for New Vaidhyanathan Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing New Vaidhyanathan Street's 2024 figure above this median.

• New Thandavarayan Street: Rs 6,600 per sq.ft (2024)
• New Vinoba Nagar 1st street: Rs 1,300 per sq.ft (2024)
• New Vinoba Nagar 2nd street: Rs 1,300 per sq.ft (2024)
• New Vinoba Nagar 3rd street: Rs 1,300 per sq.ft (2024)
• New Soliappan Street: Rs 2,200 per sq.ft (2024)
• New Sastri Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Vaidhyanathan Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 New Vaidhyanathan Street?

The Sub Registrar Office covering New Vaidhyanathan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered.

When registering a property, the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Vaidhyanathan Street?

The current guideline value of New Vaidhyanathan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 267% over the years.

What are the other streets in Tondaiarpet with their guideline values?

Other streets in Tondaiarpet include New Thandavarayan Street at Rs 6,600 per sq.ft, and several streets in New Vinoba Nagar at Rs 1,300 per sq.ft, among others.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is calculated at 2% of the guideline value.

Where can I find the Sub Registrar Office for New Vaidhyanathan Street?

The Sub Registrar Office for New Vaidhyanathan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.