Guideline Value for VAISHNAVI NAGAR

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under Kizhnallathur & Melnallathur village and is classified as Residential Class I Type - II, governed by the Manavalanagar SRO.

How the guideline value of Vaishnavi Nagar has changed

The guideline value for Vaishnavi Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 250 per sq.ft, which then decreased to Rs 167 per sq.ft in 2017, marking a drop of 33%. The subsequent revision in 2023 brought the value back to Rs 250 per sq.ft, and it remained unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 50%. However, when comparing the overall change from 2012 to 2024, the guideline value has not changed, remaining at Rs 250 per sq.ft.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO with a 2024 guideline value range from Rs 175 to Rs 1,201 per sq.ft. The median value is Rs 250 per sq.ft, making Vaishnavi Nagar's current guideline value equal to this median.

• Vasathi Nagar: Rs 200 per sq.ft (2024)
• Vetri Nagar: Rs 300 per sq.ft (2024)
• Vidhya Nagar: Rs 250 per sq.ft (2024)
• Vigneswara Nagar: Rs 226 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)
• Thangavel Nagar: Rs 250 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, calculated at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total cost for these fees to Rs 22,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi 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 information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor in the registration process of properties in Kizhnallathur & Melnallathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is referenced to ensure that the correct fees are applied based on the property's value. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

The current guideline value of Vaishnavi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024, resulting in a 50% increase from 2017 to 2023.

What is the land classification for Vaishnavi Nagar?

Vaishnavi Nagar is classified as Residential Class I Type - II, indicating its designation for residential purposes within the region.

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

For a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500 in fees.

Which office handles registrations for properties in Vaishnavi Nagar?

The Manavalanagar Sub Registrar Office is responsible for handling registrations for properties in Vaishnavi Nagar, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.