Guideline Value for VAIGAI STREET

Vaigai Street guideline value

The current guideline value of Vaigai Street in Thiruvanmiyur village is Rs 11,000 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Special Type - II.

How the guideline value of Vaigai Street has changed

The guideline value for Vaigai Street has seen significant changes over the years. In the 2002 revision, the guideline value was Rs 1,405 per sq.ft. This increased to Rs 1,554 per sq.ft in the 2003 revision, marking a 11% rise. The 2007 revision saw a substantial jump to Rs 2,200 per sq.ft, reflecting a 42% increase. In the 2012 revision, the value remained at Rs 10,000 per sq.ft, with no figure available for the years in between.

Continuing from 2012, the guideline value increased to Rs 6,700 per sq.ft in the 2017 revision, a decrease of 33%. The value then rose to Rs 10,000 per sq.ft in the 2023 revision, which was a 49% increase. Finally, the current guideline value is Rs 11,000 per sq.ft as of the 2024 revision, representing a 10% increase from the previous year.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, placing Vaigai Street's 2024 figure above this median.

• Valluvar Nagar: Rs 7,150 per sq.ft (2024)
• Valmeegi Nagar 1st Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 2nd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 3rd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 4th Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaigai Street?

The Sub Registrar Office that covers Vaigai Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the guideline value to understand the costs involved in the purchase process.

Frequently asked questions

What is the current guideline value of Vaigai Street?

The current guideline value of Vaigai Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,405 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 683%.

What are the other guideline values in Thiruvanmiyur?

Other streets in Thiruvanmiyur have guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft.

How is stamp duty calculated for properties in Vaigai Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000.

Where can I find the Sub Registrar Office for Vaigai Street?

The Sub Registrar Office for Vaigai Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find more details online.