Guideline Value for Vaidegi Street

Vaidegi Street guideline value

The current guideline value of Vaidegi Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Vaidegi Street has changed

The guideline value for Vaidegi Street has seen several revisions over the years. In 2002, the guideline value was Rs 384 per sq.ft. This increased to Rs 457 per sq.ft in 2003, marking a rise of 19%. The value continued to increase significantly, reaching Rs 1,500 per sq.ft in 2007, which was a 228% increase from 2003. The value then saw a substantial jump to Rs 3,500 per sq.ft in 2012, reflecting a 133% increase from the previous revision.

In 2017, the guideline value dropped to Rs 2,345 per sq.ft, a decrease of 33% from 2012. This was followed by a significant increase to Rs 3,500 per sq.ft in 2023, which was a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,900 per sq.ft, representing an 11% increase from 2023. There are no figures available for the revisions in years other than those listed.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO with a 2024 guideline value range from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the 2024 figure for Vaidegi Street.

• Vallalal Street: Rs 3,900 per sq.ft (2024)
• Vargiswar Avenue: Rs 3,900 per sq.ft (2024)
• Vasudevan Street: Rs 3,300 per sq.ft (2024)
• Thulukkathamman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidegi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaidegi Street?

The Sub Registrar Office that covers Vaidegi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the registration process.

When a buyer approaches the registration office, the guideline value ensures that the property is not undervalued, thereby protecting the interests of both the buyer and the government. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vaidegi Street?

The current guideline value of Vaidegi Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 384 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a significant overall increase of 916% over the years.

What is the registration office for Vaidegi Street?

The registration office for Vaidegi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Vaidegi Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,73,000.

What are the other streets with the same guideline value in Kottivakkam?

Other streets in Kottivakkam with the same guideline value of Rs 3,900 per sq.ft include Vallalal Street and Vargiswar Avenue.