Guideline Value for Vachinathan Nagar

Vachinathan Nagar guideline value

The current guideline value of Vachinathan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Pozhichalur village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vachinathan Nagar has changed

The guideline value for Vachinathan Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 804 per sq.ft in 2017. This was a significant rise of 101%. The value then jumped to Rs 1,200 per sq.ft in 2023, marking a 49% increase from the previous revision. The most recent 2024 revision has set the guideline value at Rs 1,320 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, which is equal to the current guideline value of Vachinathan Nagar.

• Vajiravelu Street: Rs 1,100 per sq.ft (2024)
• Udhaya Koil Street: Rs 1,100 per sq.ft (2024)
• T.T.K.Nagar: Rs 1,100 per sq.ft (2024)
• Thuya Pethuru Street: Rs 1,100 per sq.ft (2024)
• Vanaja Nagar: Rs 1,650 per sq.ft (2024)
• Vanaja Nagar Kuttai Medu: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vachinathan 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, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for additional calculations.

Which Sub Registrar Office covers Vachinathan Nagar?

The Vachinathan Nagar area falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor when buying or selling property in Pozhichalur, as it determines the minimum price at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the transaction process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vachinathan Nagar?

The current guideline value of Vachinathan 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 increased from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, representing a total increase of 230% over the years.

What are the other streets in Pozhichalur and their guideline values?

Other streets in Pozhichalur include Vajiravelu Street, Udhaya Koil Street, T.T.K.Nagar, Thuya Pethuru Street, Vanaja Nagar, and Vanaja Nagar Kuttai Medu, with guideline values ranging from Rs 1,100 to Rs 1,650 per sq.ft.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft would incur a total fee of Rs 1,18,800.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more details by visiting the appropriate link.