Guideline Value for Vaidthee avenue

Vaidthee avenue guideline value

The current guideline value of Vaidthee avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vaidthee avenue has changed

The guideline value for Vaidthee avenue has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 has set it at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2007 to 2024, the overall change in guideline value is an increase of 633%. The changes between the revisions include a 567% rise from 2007 to 2012, a decrease of 33% from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values for 2024 ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the guideline value for Vaidthee avenue.

• Vaidthee Nagar: Rs 2,200 per sq.ft (2024)
• Vaitheeswaran koil street: Rs 2,740 per sq.ft (2024)
• Vaithiswaran Nagar: Rs 2,200 per sq.ft (2024)
• Vaaniyaar street (west): Rs 2,200 per sq.ft (2024)
• Uppukolliastreet: Rs 4,950 per sq.ft (2024)
• Uppu kollai street: Rs 2,740 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidthee avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 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 information.

Which Sub Registrar Office covers Vaidthee avenue?

The Sub Registrar Office that covers Vaidthee avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Poonthamallee. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are paid based on the established rates. This helps maintain transparency and fairness in property transactions within the area.

Frequently asked questions

What is the current guideline value of Vaidthee avenue?

The current guideline value of Vaidthee avenue 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 300 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including a significant increase of 567% from 2007 to 2012.

What is the registration office for Vaidthee avenue?

The registration office for Vaidthee avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Vaidthee avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.

What is the land classification of Vaidthee avenue?

Vaidthee avenue is classified as Residential Class II Type - I, which is important for understanding its usage and development potential.