Guideline Value for Vathiyar eagappan Street

Vathiyar eagappan Street guideline value

The current guideline value of Vathiyar eagappan Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Vathiyar eagappan Street has changed

Over the years, the guideline value of Vathiyar eagappan Street has seen significant changes. In the 2007 revision, the guideline value was Rs 700 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2012 revision, reflecting a remarkable increase of 186%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by another increase to Rs 2,200 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 214%. It is important to note that the register has no figure for Vathiyar eagappan Street for the years 2002 and 2003.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Vathiyar eagappan Street's 2024 value above this median.

• Vathiyar eagappan Cross Street: Rs 2,200 per sq.ft (2024)
• Veerakutty Street: Rs 1,600 per sq.ft (2024)
• Veeraraghavan Lane: Rs 1,600 per sq.ft (2024)
• Veeraraghavan Road: Rs 2,200 per sq.ft (2024)
• Varadaraja Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Vannar Lane: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vathiyar eagappan 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 together to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vathiyar eagappan Street?

The Sub Registrar Office that covers Vathiyar eagappan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Tondaiarpet. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the fees are calculated based on a standardized value set by the government.

It is important for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall cost of the transaction. Proper understanding of these values can help in planning the financial aspects of property transactions more effectively.

Frequently asked questions

What is the current guideline value of Vathiyar eagappan Street?

The current guideline value of Vathiyar eagappan 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 significantly, increasing from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 214%.

What is the land classification for Vathiyar eagappan Street?

Vathiyar eagappan Street falls under the Residential Class I Type - I land classification.

Where can I find the Sub Registrar Office for Vathiyar eagappan Street?

The Sub Registrar Office for Vathiyar eagappan Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Vathiyar eagappan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.