Guideline Value for VAJBAI STREET

Vajbai Street guideline value

The current guideline value of Vajbai Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village under the Neelankarai SRO and falls under the Residential Class IV Type - I land classification.

How the guideline value of Vajbai Street has changed

In the 2017 revision, the guideline value for Vajbai Street was Rs 1,005 per sq.ft. From 2017 to the 2024 revision, the value increased by 69% to reach Rs 1,700 per sq.ft. The register has no figure for Vajbai Street for the years 2023, 2012, 2007, 2003, and 2002.

The 2024 revision marks a significant increase from the previous figure of Rs 1,005 per sq.ft in 2017. This change reflects the updated valuation in the Neelankarai SRO area, where the guideline value has been revised to Rs 1,700 per sq.ft.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. Vajbai Street's 2024 figure is below this median.

• Uratchi Ondirya School Street Extension: Rs 1,700 per sq.ft (2024)
• Uratchi Ondirya School Street 1st Cross Street Extension: Rs 1,700 per sq.ft (2024)
• Uma Thottam: Rs 1,700 per sq.ft (2024)
• Umapathi Lane: Rs 1,700 per sq.ft (2024)
• Uma Maheswari Avenue: Rs 2,200 per sq.ft (2024)
• Ulaveethi Amman Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vajbai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vajbai Street?

The Sub Registrar Office that covers Vajbai Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Sholinganallur - 1, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value is periodically revised to reflect changes in the real estate market and is crucial for legal documentation.

Frequently asked questions

What is the current guideline value of Vajbai Street?

The current guideline value of Vajbai Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, representing a 69% increase. There are no figures available for the years 2023, 2012, 2007, 2003, and 2002.

What is the land classification for Vajbai Street?

Vajbai Street is classified under Residential Class IV Type - I land classification. This classification is significant for determining the guideline value and property regulations.

Where can I find the Sub Registrar Office for Vajbai Street?

The Neelankarai Sub Registrar Office covers Vajbai Street and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Vajbai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000, leading to a stamp duty of Rs 1,19,000 at 7%.