Guideline Value for V.S. NAIDU NAGAR

V.S. Naidu Nagar guideline value

The current guideline value of V.S. Naidu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Residential Class I Type - II.

How the guideline value of V.S. Naidu Nagar has changed

The guideline value of V.S. Naidu Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,340 per sq.ft, a decrease of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and most recently, the 2024 revision raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, indicating that V.S. Naidu Nagar's 2024 figure is below this median.

• Yafa Springs: Rs 3,700 per sq.ft (2024)
• Viswanathanpuram: Rs 2,700 per sq.ft (2024)
• Vishwanathapuram: Rs 2,700 per sq.ft (2024)
• Vishvanathanagar: Rs 2,700 per sq.ft (2024)
• Visalakshi Nagar: Rs 2,700 per sq.ft (2024)
• Vinayaga Nagar Part-I: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in V.S. Naidu Nagar

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, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.S. Naidu Nagar?

The Sub Registrar Office that covers V.S. Naidu Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a crucial factor in the registration process for property transactions in Vengaivasal. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of V.S. Naidu Nagar?

The current guideline value of V.S. Naidu Nagar 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 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of V.S. Naidu Nagar?

V.S. Naidu Nagar is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for property in V.S. Naidu Nagar?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for V.S. Naidu Nagar?

The Selaiyur Sub Registrar Office handles the registration for V.S. Naidu Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.