Guideline Value for VAIGUNTHA NAGAR

Vaiguntha Nagar guideline value

The current guideline value of Vaiguntha Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Vaiguntha Nagar has changed

Looking at the revisions, the guideline value for Vaiguntha Nagar has seen several changes over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was reduced to Rs 402 per sq.ft, before increasing to Rs 600 per sq.ft in the 2023 revision. The most recent revision in 2024 has kept the guideline value steady at Rs 600 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, the overall change from 2012 to 2024 shows no increase, as the value has returned to Rs 600 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the guideline value of Vaiguntha Nagar.

• Vasantham Nagar: Rs 600 per sq.ft (2024)
• Veenus Colony Phase -III: Rs 600 per sq.ft (2024)
• Thirumal Puram: Rs 600 per sq.ft (2024)
• Swami Nagar: Rs 600 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 600 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vaiguntha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaiguntha Nagar?

The Sub Registrar Office that covers Vaiguntha Nagar is 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 Kolathur

The guideline value plays a crucial role during property registration in Kolathur. It serves as a benchmark for determining the value of a property, ensuring that the registration fees and stamp duties are calculated accurately based on the established rates.

When buying or selling property, the guideline value is considered to ensure that the transaction reflects a fair value as per the government standards. This helps in maintaining transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vaiguntha Nagar?

The current guideline value of Vaiguntha Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, with significant changes noted between 2017 and 2023, where it increased by 49%. However, from 2012 to 2024, the overall value remained unchanged at Rs 600 per sq.ft.

What is the land classification of Vaiguntha Nagar?

Vaiguntha Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What is the registration office for Vaiguntha Nagar?

The registration office for Vaiguntha Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated in Vaiguntha Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.