Guideline Value for Vaibhav Lakshmi Nagar

Vaibhav Lakshmi Nagar guideline value

The current guideline value of Vaibhav Lakshmi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Athur B Block village under the Chengleput Joint II SRO, and it falls under the land classification of Residential Special Type - I.

How the guideline value of Vaibhav Lakshmi Nagar has changed

The guideline value for Vaibhav Lakshmi Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, there was a decrease to Rs 469 per sq.ft in 2017. The value then rose to Rs 700 per sq.ft in both 2023 and the current 2024 revision, indicating no change between these two years. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. There was a notable increase of 367% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Athur B Block

Athur B Block consists of 79 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value for this area is Rs 700 per sq.ft, which is the same as the current value for Vaibhav Lakshmi Nagar.

• Vaibhav Gardens: 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 Lakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaibhav Lakshmi Nagar?

The Sub Registrar Office that covers Vaibhav Lakshmi Nagar 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 further assistance.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value plays a crucial role during the registration of property transactions in Athur B Block. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value is compared with the sale price, and the higher value is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vaibhav Lakshmi Nagar?

The current guideline value of Vaibhav Lakshmi Nagar 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 from Rs 150 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the median guideline value in Athur B Block?

The median guideline value in Athur B Block is Rs 700 per sq.ft, which is the same as the current value for Vaibhav Lakshmi Nagar.

What are the stamp duty and registration fees for a property in Vaibhav Lakshmi Nagar?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000, and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles property registrations for Vaibhav Lakshmi Nagar?

The Chengleput Joint II Sub Registrar Office handles property registrations for Vaibhav Lakshmi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.