Guideline Value for VAJIRAM NAGAR

Vajiram Nagar guideline value

The current guideline value of Vajiram Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Kilakadi village under the Salavakkam SRO and is classified as Residential Special Type - I.

How the guideline value of Vajiram Nagar has changed

Over the years, the guideline value for Vajiram Nagar has experienced several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision saw a decrease to Rs 100 per sq.ft, a reduction of 33% from the 2012 figure. From 2017 to 2023, the value increased by 50%, bringing it back to Rs 150 per sq.ft, which has been maintained in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 150 per sq.ft.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft, with the median value being Rs 150 per sq.ft. Vajiram Nagar's 2024 figure aligns with this median.

• Venkateshwara Nagar Phase-II: Rs 250 per sq.ft (2024)
• Sri Sai Thuvaraga Nagar: Rs 250 per sq.ft (2024)
• Sri Krishna Nagar Ph-I: Rs 336 per sq.ft (2024)
• Sri Krishna Nagar: Rs 250 per sq.ft (2024)
• Selva Seeman Nagaram: Rs 101 per sq.ft (2024)
• Rose Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vajiram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, charged at 7%, would amount to Rs 10,500, while the registration fee at 2% would be Rs 3,000. Therefore, the total cost for stamp duty and registration fee would be Rs 13,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vajiram Nagar?

The Vajiram Nagar area falls under the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Kilakadi. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vajiram Nagar?

The current guideline value of Vajiram Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification of Vajiram Nagar?

Vajiram Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated in Vajiram Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 at a rate of 7%.