Guideline Value for Vaidyalingam Main Salai

Vaidyalingam Main Salai guideline value

The current guideline value of Vaidyalingam Main Salai is Rs 2,800 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 - II.

How the guideline value of Vaidyalingam Main Salai has changed

The guideline value for Vaidyalingam Main Salai has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 133 per sq.ft, which increased to Rs 161 per sq.ft in 2003. Following this, there was a significant rise to Rs 700 per sq.ft in 2007, and then to Rs 2,500 per sq.ft in 2012. However, the value decreased to Rs 1,675 per sq.ft in 2017 before rising again to Rs 2,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,800 per sq.ft.

In terms of percentage changes, the guideline value increased by 12% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. The value decreased by 33% from 2012 to 2017, while it surged by 257% from 2007 to 2012. The increase from 2003 to 2007 was 335%, and from 2002 to 2003, it was 21%. Overall, from 2002 to 2024, there has been a substantial increase of 2005% in the guideline value.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO, with guideline values 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, placing Vaidyalingam Main Salai's 2024 figure above this median.

• Vaidyalingam 3rd Street: Rs 2,200 per sq.ft (2024)
• Vaidyalingam 2nd Street: Rs 2,200 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 Main Salai

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaidyalingam Main Salai?

The Sub Registrar Office that covers Vaidyalingam Main Salai is 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 more details.

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

The guideline value plays a crucial role during the registration of property transactions in Neelankarai. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of this value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vaidyalingam Main Salai?

The current guideline value of Vaidyalingam Main Salai is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 133 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing significant changes over the years.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, with Vaidyalingam Main Salai's 2024 figure being above this median.

How is the stamp duty calculated for properties in Vaidyalingam Main Salai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees would amount to Rs 2,52,000.

Where is the Sub Registrar Office for Vaidyalingam Main Salai located?

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