Guideline Value for Vaidyalingam 2nd Cross Street

Vaidyalingam 2nd Cross Street guideline value

The current guideline value of Vaidyalingam 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Vaidyalingam 2nd Cross Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. It then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

Chitlapakkam has a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the current value of Vaidyalingam 2nd Cross Street equal to this median.

• Vaidyalingam Ist Cross Street: Rs 1,650 per sq.ft (2024)
• Vaigai Street: Rs 1,650 per sq.ft (2024)
• Vaithiyalingam Street: Rs 1,650 per sq.ft (2024)
• Usha Avenue: Rs 2,750 per sq.ft (2024)
• Valliammai 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Valliammai Ist Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidyalingam 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 Vaidyalingam 2nd Cross Street?

The Sub Registrar Office that covers Vaidyalingam 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies during registration. This helps maintain transparency and ensures that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Vaidyalingam 2nd Cross Street?

The current guideline value of Vaidyalingam 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Vaidyalingam 2nd Cross Street?

Vaidyalingam 2nd Cross Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Vaidyalingam 2nd Cross Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Chitlapakkam?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For example, if the guideline value is Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.