Guideline Value for Vadivelu Street (Manikandan 9th Street)

Vadivelu Street (Manikandan 9th Street) guideline value

The current guideline value of Vadivelu Street (Manikandan 9th Street) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class I Type - I.

How the guideline value of Vadivelu Street (Manikandan 9th Street) has changed

The guideline value for Vadivelu Street (Manikandan 9th Street) has seen several revisions over the years. The 2007 revision set the value at Rs 900 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, this figure dropped to Rs 1,340 per sq.ft in 2017. The value then rose significantly to Rs 2,000 per sq.ft in 2023, before reaching the current value of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value in the village is Rs 1,600 per sq.ft, positioning Vadivelu Street (Manikandan 9th Street) above this median.

• Vaidyanathan Street West [2]: Rs 4,400 per sq.ft (2024)
• Ullaramman Koil Street: Rs 1,600 per sq.ft (2024)
• Ulagappa Mesthri Street: Rs 1,300 per sq.ft (2024)
• Udaiyar Egappan Street: Rs 1,300 per sq.ft (2024)
• Vannara Street: Rs 1,300 per sq.ft (2024)
• Vannar Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vadivelu Street (Manikandan 9th Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vadivelu Street (Manikandan 9th Street)?

The Sub Registrar Office that covers Vadivelu Street (Manikandan 9th Street) is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Tondaiarpet. It is used to determine the stamp duty and registration fees, ensuring that these costs are aligned with the property's assessed value.

When buying or selling property, the guideline value serves as a benchmark for transactions. Buyers and sellers must be aware of this value to accurately calculate the associated costs and comply with local regulations.

Frequently asked questions

What is the current guideline value of Vadivelu Street (Manikandan 9th Street)?

The current guideline value of Vadivelu Street (Manikandan 9th 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 changed from Rs 900 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 144% over this period.

What is the median guideline value in Tondaiarpet?

The median guideline value in Tondaiarpet is Rs 1,600 per sq.ft, with Vadivelu Street (Manikandan 9th Street) being above this median at Rs 2,200 per sq.ft.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Vadivelu Street (Manikandan 9th Street)?

The Sub Registrar Office for Vadivelu Street (Manikandan 9th Street) is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.