Guideline Value for VADHABI NAGAR

Vadhabi Nagar guideline value

The current guideline value of Vadhabi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Vengaivasal village under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of Vadhabi Nagar has changed

The guideline value for Vadhabi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and currently stands at Rs 2,400 per sq.ft from the 2024 revision.

From the 2012 to 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 9%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, making Vadhabi Nagar's current value below this median.

• Tvs Emerald Aaranya: Rs 4,800 per sq.ft (2024)
• Valli Nagar: Rs 2,200 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 850 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• Velachery Main Road: Rs 3,700 per sq.ft (2024)
• Velavan Colony: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Vadhabi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vadhabi Nagar?

The Sub Registrar Office covering Vadhabi 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 when registering property transactions in Vengaivasal. It serves as the basis for calculating stamp duty and registration fees, ensuring that both the buyer and seller comply with the legal requirements during the sale process.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two figures is used to determine the applicable taxes, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vadhabi Nagar?

The current guideline value of Vadhabi Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the other streets in Vengaivasal and their guideline values?

Other streets in Vengaivasal include Tvs Emerald Aaranya at Rs 4,800 per sq.ft, Valli Nagar at Rs 2,200 per sq.ft, and Thiruvalluvar Nagar at Rs 850 per sq.ft, among others.

What is the registration fee for property in Vadhabi Nagar?

The registration fee for property in Vadhabi Nagar is calculated at 2% of the guideline value. For a property valued at Rs 24,00,000, the registration fee would be Rs 48,000.

Where can I find the Sub Registrar Office for Vadhabi Nagar?

The Selaiyur Sub Registrar Office covers Vadhabi Nagar and is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.