Guideline Value for VAIKAI STREET

Vaikai Street guideline value

The current guideline value of Vaikai Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village, under the Manavalanagar SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Vaikai Street has changed

The guideline value for Vaikai Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 871 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,300 per sq.ft, and the same value continues into the 2024 revision, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 767%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vengathur

In Vengathur village, there are 186 streets under the Manavalanagar SRO that carry a guideline value for 2024, ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Vaikai Street's 2024 guideline value above this median.

• Valavan Street: Rs 800 per sq.ft (2024)
• Vallalar Street: Rs 800 per sq.ft (2024)
• Valli Street: Rs 800 per sq.ft (2024)
• Varalakshmi Nagar: Rs 1,300 per sq.ft (2024)
• Va.Voo.See. Street: Rs 1,300 per sq.ft (2024)
• Veenas Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Vaikai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty is charged at 7%, amounting to Rs 91,000, while the registration fee is charged at 2%, which is Rs 26,000. Therefore, the total cost for stamp duty and registration fee would be Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaikai Street?

The Sub Registrar Office that covers Vaikai Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price of the property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. This value is periodically revised to reflect changes in the real estate market, ensuring that it remains relevant for both buyers and sellers.

Frequently asked questions

What is the current guideline value for Vaikai Street?

The current guideline value for Vaikai Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vaikai Street has changed from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2012, then decreased to Rs 871 per sq.ft in 2017, and remained at Rs 1,300 per sq.ft in both 2023 and 2024.

What is the land classification for Vaikai Street?

Vaikai Street is classified as Commercial Class I Type - III, which indicates its intended use and development potential.

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

The Sub Registrar Office for Vaikai Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is stamp duty calculated for properties on Vaikai Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 91,000.