Guideline Value for Vaidyalingam 3rd Street

Vaidyalingam 3rd Street guideline value

The current guideline value of Vaidyalingam 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Vaidyalingam 3rd Street has changed

Over the years, the guideline value of Vaidyalingam 3rd Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision value of Rs 1,340 per sq.ft. However, in 2023, the value increased to Rs 2,000 per sq.ft, and the most recent 2024 revision has further raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between the revisions are as follows: from 2017 to 2023, the value increased by 49%, while the overall change from 2012 to 2024 reflects a 10% increase. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is equal to the guideline value of Vaidyalingam 3rd Street.

• Vaidyalingam 2nd Street: Rs 2,200 per sq.ft (2024)
• Vaidyalingam Main Salai: Rs 2,800 per sq.ft (2024)
• Vaidyalingam 1st Street: Rs 2,200 per sq.ft (2024)
• Veerapandiya Katta Pomman Street: Rs 1,700 per sq.ft (2024)
• Thresa Street: Rs 1,700 per sq.ft (2024)
• Thiru Vi. Ka .Street: Rs 1,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that the 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 Vaidyalingam 3rd Street?

The Vaidyalingam 3rd Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum value at which property transactions must be registered, ensuring that the state receives appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction.

Frequently asked questions

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

The current guideline value of Vaidyalingam 3rd 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 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a 10% increase. Additionally, it increased from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023, which is a 49% increase.

What is the land classification for Vaidyalingam 3rd Street?

Vaidyalingam 3rd Street is classified as Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Vaidyalingam 3rd Street?

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 at 7% would be Rs 1,54,000.