Guideline Value for Vaidiyakara 3rd Street

Vaidiyakara 3rd Street guideline value

The current guideline value of Vaidiyakara 3rd Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Vaidiyakara 3rd Street has changed

The guideline value for Vaidiyakara 3rd Street has seen significant changes over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision set the value at Rs 804 per sq.ft, followed by a substantial increase to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 has raised the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2012 for this street. The overall change from 2003 to 2024 is an increase of 323%, highlighting the significant growth in the guideline value over the two decades.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value of Vaidiyakara 3rd Street is below this median.

• Vaidiyakara 2nd Street: Rs 1,320 per sq.ft (2024)
• Vaidiyakara 1st Street: Rs 1,320 per sq.ft (2024)
• Vaithiyakarar Cross Street: Rs 1,320 per sq.ft (2024)
• Vaithiyakarar Street: Rs 1,320 per sq.ft (2024)
• Uyaliamman Koil Street: Rs 1,320 per sq.ft (2024)
• Umaiyalpuram 1st Street: Rs 2,860 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidiyakara 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vaidiyakara 3rd Street?

The Vaidiyakara 3rd Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value recognized by the registration authorities. This transparency aids in fair dealings and compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Vaidiyakara 3rd Street?

The current guideline value of Vaidiyakara 3rd Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 312 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 323% over the two decades.

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

Several other streets in Thiruneermalai have the same guideline value of Rs 1,320 per sq.ft, including Vaidiyakara 2nd Street, Vaidiyakara 1st Street, Vaithiyakarar Cross Street, Vaithiyakarar Street, and Uyaliamman Koil Street.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a plot of 1,000 sq.ft at the guideline value of Rs 1,320 per sq.ft, the total fees would amount to Rs 1,18,800.

Which office handles the registration for Vaidiyakara 3rd Street?

The Pammal Sub Registrar Office handles the registration for Vaidiyakara 3rd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.