Guideline Value for VAISHNAVI NAGAR

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village and falls under the Walajabad SRO. The land classification for this street is Residential Class II Type - III.

How the guideline value of Vaishnavi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged in the subsequent 2017 revision, where it was also Rs 400 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 400 per sq.ft. The 2024 revision has seen no change from the previous year, maintaining the value at Rs 400 per sq.ft. It should be noted that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, comparing the guideline values from 2012 to 2024, there has been no net change, with the value remaining at Rs 400 per sq.ft. The fluctuations observed in earlier years highlight the stability of the guideline value in recent revisions.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft as of 2024. The median guideline value in this area is Rs 750 per sq.ft, which indicates that the guideline value of Vaishnavi Nagar is below this median.

• Vakkar St: Rs 750 per sq.ft (2024)
• Vadivel Nadar Nagar: Rs 750 per sq.ft (2024)
• Vadakku Puthu St: Rs 750 per sq.ft (2024)
• Vaanuvar St: Rs 750 per sq.ft (2024)
• Un Named Layout S.No:394/1,2, 395, 396/6a: Rs 1,000 per sq.ft (2024)
• Vallappakkam Road: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnavi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs incurred during the registration process. This ensures that all transactions reflect a fair valuation of the property based on the established guidelines.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

The current guideline value of Vaishnavi Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. The value was Rs 268 per sq.ft in 2017, indicating fluctuations in earlier years.

What is the land classification for Vaishnavi Nagar?

Vaishnavi Nagar is classified as Residential Class II Type - III, which indicates its intended use for residential purposes.

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

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles all registration activities in the area.

What are the stamp duty and registration fees for property in Vaishnavi Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 4,00,000, the total costs would be Rs 36,000, which includes both the stamp duty and registration fee.