Guideline Value for VAISALI NAGAR

Vaisali Nagar guideline value

The current guideline value of Vaisali Nagar, located in Kovilkuppam village, is Rs 300 per sq.ft. This value is effective from the 2024 revision and is classified under Residential Class III Type - I. The property falls under the jurisdiction of the Manavalanagar SRO.

How the guideline value of Vaisali Nagar has changed

Over the years, the guideline value of Vaisali Nagar has experienced several revisions. In the 2012 revision, the value was Rs 300 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 201 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The latest revision in 2024 has maintained this figure at Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained unchanged.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 350 per sq.ft, placing Vaisali Nagar's 2024 figure below that median.

• Vasantham Nagar: Rs 350 per sq.ft (2024)
• Town Phase 2: Rs 300 per sq.ft (2024)
• Vasuki Nagar: Rs 300 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Surya Town: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vaisali Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000. Together, the total cost for stamp duty and registration fee would be Rs 27,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaisali Nagar?

The Sub Registrar Office that covers Vaisali Nagar 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 details.

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

The guideline value is a crucial factor when buying or selling property in Kovilkuppam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is either equal to or higher than the guideline value. This ensures compliance with local regulations and helps in the accurate assessment of taxes owed during the registration process.

Frequently asked questions

What is the current guideline value of Vaisali Nagar?

The current guideline value of Vaisali Nagar is Rs 300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a drop to Rs 201 per sq.ft in 2017 and an increase of 49% from 2017 to 2023.

Are there any years without a guideline value for Vaisali Nagar?

Yes, the register has no figures for the years 2002, 2003, and 2007 for Vaisali Nagar.

What other streets in Kovilkuppam have guideline values?

Other streets in Kovilkuppam include Vasantham Nagar, Town Phase 2, Vasuki Nagar, Sv Nagar Extension, S V Nagar, and Surya Town, with values ranging from Rs 300 to Rs 350 per sq.ft in 2024.

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

The Manavalanagar Sub Registrar Office covers Vaisali Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.