Guideline Value for VAISHNAIV NAGAR

Vaishnaiv Nagar guideline value

The current guideline value of Vaishnaiv Nagar, located in Athur B Block village, is Rs 700 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Special Type - I land classification, managed by the Chengleput Joint II SRO.

How the guideline value of Vaishnaiv Nagar has changed

Over the years, the guideline value of Vaishnaiv Nagar has seen several revisions. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 700 per sq.ft. The 2017 revision recorded a lower value of Rs 469 per sq.ft, marking a decrease of 33% from the 2012 figure. The guideline value has remained stable at Rs 700 per sq.ft from 2012 to 2024, showing an overall change of +0% during this period.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 700 per sq.ft. The most recent revision in 2024 has not altered this figure, indicating stability in the guideline value for this street.

Guideline values in Athur B Block

Athur B Block consists of 79 streets under the Chengleput Joint II SRO, with the 2024 guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median value across these streets is Rs 700 per sq.ft, which is equal to the current guideline value of Vaishnaiv Nagar.

• Vaibhav Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Vaibhav Gardens: Rs 700 per sq.ft (2024)
• Vasantham Nagar Extn: Rs 800 per sq.ft (2024)
• Vasantham Nagar Phase1,2,3: Rs 700 per sq.ft (2024)
• Venkateswara Nagar: Rs 500 per sq.ft (2024)
• Vgn Water Gardens: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnaiv Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, leading to a total cost of Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaishnaiv Nagar?

The Sub Registrar Office that covers Vaishnaiv Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information at find your SRO.

How the guideline value is used when you buy or sell in Athur B Block

When buying or selling property in Athur B Block, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. The guideline value is established by the Registration Department and is used as a basis for these calculations during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements and helps in the accurate assessment of the financial obligations associated with property transactions in the region.

Frequently asked questions

What is the current guideline value of Vaishnaiv Nagar?

The current guideline value of Vaishnaiv Nagar is Rs 700 per sq.ft, effective from the 2024 revision.

How has the guideline value changed in recent years?

In recent years, the guideline value has remained stable at Rs 700 per sq.ft from 2012 to 2024, despite a drop to Rs 469 per sq.ft in 2017. The value increased by 49% from 2017 to 2023, returning to Rs 700 per sq.ft.

What is the land classification of Vaishnaiv Nagar?

The land classification of Vaishnaiv Nagar is Residential Special Type - I, indicating its designation for residential purposes within the area.

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

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

How is the stamp duty calculated for properties in Vaishnaiv Nagar?

Stamp duty for properties in Vaishnaiv Nagar is calculated based on the higher of the guideline value and the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 49,000.