Guideline Value for Vaibhav Gardens

Vaibhav Gardens guideline value

The current guideline value of Vaibhav Gardens is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Athur B Block village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Vaibhav Gardens has changed

The guideline value for Vaibhav Gardens has undergone several revisions over the years. In 2007, the value was set at Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it then decreased by 33% to Rs 469 per sq.ft in 2017. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 367%. The notable changes include a 367% rise from 2007 to 2012, followed by a 49% increase from 2017 to 2023, and maintaining the same value of Rs 700 per sq.ft in the subsequent revisions.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 268 to Rs 1,525 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which matches the current guideline value of Vaibhav Gardens.

• Vaibhav Lakshmi Nagar: Rs 700 per sq.ft (2024)
• Vaishnaiv Nagar: Rs 700 per sq.ft (2024)
• Vasantham Nagar Extn: Rs 800 per sq.ft (2024)
• Vasantham Nagar Phase1,2,3: Rs 700 per sq.ft (2024)
• Venkateswara Nagar: Rs 500 per sq.ft (2024)
• Thilakar Avenue: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Vaibhav Gardens

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaibhav Gardens?

The Sub Registrar Office that covers Vaibhav Gardens is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Athur B Block

The guideline value plays a crucial role in the registration process when buying or selling property in Athur B Block. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. 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 Vaibhav Gardens?

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

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 150 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and remaining at Rs 700 per sq.ft in the 2023 and 2024 revisions.

What is the land classification for Vaibhav Gardens?

The land classification for Vaibhav Gardens is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Vaibhav Gardens?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.