Guideline Value for VAITHEE NAGAR

Vaithee Nagar guideline value

The current guideline value of Vaithee Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Thirumazhisai village under the Poonamallee SRO and is classified as Commercial Special Type - I.

How the guideline value of Vaithee Nagar has changed

In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This figure dropped to Rs 804 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it to Rs 1,200 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which matches the current guideline value of Vaithee Nagar.

• Vasa nagar: Rs 1,100 per sq.ft (2024)
• Veetrirundha perumal koil street: Rs 1,100 per sq.ft (2024)
• T.K.Arumugam Nagar: Rs 1,430 per sq.ft (2024)
• Venkateswara nagar: Rs 1,100 per sq.ft (2024)
• Venus Avenue: Rs 1,100 per sq.ft (2024)
• Venus nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vaithee Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. 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 Vaithee Nagar?

The Sub Registrar Office that covers Vaithee Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which helps in maintaining transparency in the real estate market. It is crucial to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vaithee Nagar?

The current guideline value of Vaithee Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then up to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Vaithee Nagar?

Vaithee Nagar is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

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

The Sub Registrar Office for Vaithee Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

How is the stamp duty calculated in Vaithee Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.