Guideline Value for VAIGAI AVENUE

Vaigai Avenue guideline value

The current guideline value of Vaigai Avenue in Palur-A village is Rs 400 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Vaigai Avenue has changed

The guideline value for Vaigai Avenue has seen revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a guideline value of Rs 400 per sq.ft. The most recent revision in 2024 maintained this value at Rs 400 per sq.ft, reflecting a 49% increase from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for Vaigai Avenue. Therefore, the only available revisions are from 2017, 2023, and 2024, showing a consistent guideline value of Rs 400 per sq.ft from 2023 to 2024, with a significant increase of 49% from 2017 to 2024.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 600 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the guideline value of Vaigai Avenue.

• Vaigai Nagar: Rs 400 per sq.ft (2024)
• V G R Nagar: Rs 400 per sq.ft (2024)
• Wildseed Gardens: Rs 300 per sq.ft (2024)
• S.R.K.Avenue: Rs 400 per sq.ft (2024)
• Sri Vinay Nagar: Rs 400 per sq.ft (2024)
• Sri Srinivasa Avenue Part-II: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vaigai Avenue?

Vaigai Avenue is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Palur-A

The guideline value is a critical factor when registering properties in Palur-A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is bought or sold, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vaigai Avenue?

The current guideline value of Vaigai Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification for Vaigai Avenue?

Vaigai Avenue is classified as Residential Special Type - I under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vaigai Avenue?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at 7%.