Guideline Value for VAIDYARAMAN STREET

Vaidyaraman Street guideline value

The current guideline value of Vaidyaraman Street is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - I.

How the guideline value of Vaidyaraman Street has changed

The guideline value for Vaidyaraman Street has undergone several revisions over the years. In 2002, the value was Rs 1,261 per sq.ft, which increased to Rs 1,400 per sq.ft in 2003. From there, the value saw a significant rise to Rs 3,045 per sq.ft in 2007, followed by a substantial increase to Rs 13,000 per sq.ft in 2012. However, this figure dropped to Rs 8,710 per sq.ft in 2017. The value then rose sharply again to Rs 13,000 per sq.ft in 2023, and finally reached Rs 14,300 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,034%. The register has no figures for the years not listed, ensuring clarity in the historical data.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, placing Vaidyaraman Street's 2024 figure above this median.

• Usman Road(Part I New Boag Road To Bus Stand: Rs 27,500 per sq.ft (2024)
• Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road: Rs 27,500 per sq.ft (2024)
• Usman Road (Part II Bus Stand To Pangal Park: Rs 27,500 per sq.ft (2024)
• Unnamalai Ammal Street: Rs 14,300 per sq.ft (2024)
• Valmiki Street: Rs 14,300 per sq.ft (2024)
• Varadaraja Mudali Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidyaraman Street

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty is calculated at 7%, resulting in Rs 10,01,000, while the registration fee at 2% is Rs 2,86,000. Together, the total cost for stamp duty and registration fee is Rs 12,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaidyaraman Street?

The Sub Registrar Office that covers Vaidyaraman Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Tnagar. It is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps establish a baseline for the transaction, providing a framework for calculating the necessary fees. This ensures transparency in the property registration process.

Frequently asked questions

What is the current guideline value of Vaidyaraman Street?

The current guideline value of Vaidyaraman Street is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value of Vaidyaraman Street changed over the years?

The guideline value has changed from Rs 1,261 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, marking an overall increase of 1,034% over the years.

What is the median guideline value in Tnagar?

The median guideline value in Tnagar is Rs 11,000 per sq.ft, with Vaidyaraman Street's current value being above this median.

What are the stamp duty and registration fees for property in Vaidyaraman Street?

For a property valued at Rs 1,43,00,000, the stamp duty is Rs 10,01,000 and the registration fee is Rs 2,86,000, totaling Rs 12,87,000.

Which office handles the registration for Vaidyaraman Street?

The Thiyagaraya nagar Sub Registrar Office handles the registration for Vaidyaraman Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.