Guideline Value for VENGAIVAASAL MAIN ROAD

Vengaivaasal Main Road guideline value

The current guideline value of Vengaivaasal Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Vengaivasal village under the Selaiyur SRO, classified as Industries Special Type - I.

How the guideline value of Vengaivaasal Main Road has changed

The guideline value for Vengaivaasal Main Road has undergone several revisions over the years. In 2012, the value was set at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and most recently, it rose to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

Within Vengaivasal village, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. Vengaivaasal Main Road's guideline value of Rs 3,300 per sq.ft is above this median.

• Velavan Colony: Rs 950 per sq.ft (2024)
• Velachery Main Road: Rs 3,700 per sq.ft (2024)
• Veeramamunivar Street: Rs 3,300 per sq.ft (2024)
• V.G.P. Avenue: Rs 1,900 per sq.ft (2024)
• V.G.P.Santhanammal Nagar: Rs 2,700 per sq.ft (2024)
• V G P Veerabadra Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vengaivaasal Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vengaivaasal Main Road?

The Sub Registrar Office that covers Vengaivaasal Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the state.

When a property is registered, the guideline value is used to determine the applicable fees, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures transparency and compliance in property transactions.

Frequently asked questions

What is the current guideline value for Vengaivaasal Main Road?

The current guideline value for Vengaivaasal Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Vengaivaasal Main Road?

Vengaivaasal Main Road is classified as Industries Special Type - I, indicating its suitability for industrial purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office located for Vengaivaasal Main Road?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.