Guideline Value for Vaidyanathan Street West [2]

Vaidyanathan Street West [2] guideline value

The current guideline value of Vaidyanathan Street West [2] is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of Vaidyanathan Street West [2] has changed

The guideline value for Vaidyanathan Street West [2] has seen significant changes over the years. In the 2007 revision, the value was Rs 800 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a rise of 400%. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, reflecting a decline of 33%. The value rebounded to Rs 4,000 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 4,400 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Vaidyanathan Street West [2]. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 450%.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Vaidyanathan Street West [2] has a guideline value above this median, reflecting its commercial classification.

• Vadivelu Street (Manikandan 9th Street): Rs 2,200 per sq.ft (2024)
• Ullaramman Koil Street: Rs 1,600 per sq.ft (2024)
• Ulagappa Mesthri Street: Rs 1,300 per sq.ft (2024)
• Udaiyar Egappan Street: Rs 1,300 per sq.ft (2024)
• Vannara Street: Rs 1,300 per sq.ft (2024)
• Vannar Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidyanathan Street West [2]

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaidyanathan Street West [2]?

The Sub Registrar Office that covers Vaidyanathan Street West [2] is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to verify the current guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate market and land classification.

Frequently asked questions

What is the current guideline value of Vaidyanathan Street West [2]?

The current guideline value of Vaidyanathan Street West [2] is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 450%.

What is the land classification for Vaidyanathan Street West [2]?

The land classification for Vaidyanathan Street West [2] is Commercial Special Type - II.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Vaidyanathan Street West [2]?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.