Guideline Value for Vaidegi Nagar

Vaidegi Nagar guideline value

The current guideline value of Vaidegi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Vaidegi Nagar has changed

The guideline value for Vaidegi Nagar has seen several revisions over the years. In 2007, the value was set at Rs 120 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a remarkable increase of 733%. However, between 2012 and 2017, the value decreased by 33% to Rs 670 per sq.ft. The value then rose to Rs 1,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

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 817%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Vaidegi Nagar's 2024 figure below that median.

• Vadivel Nagar: Rs 1,650 per sq.ft (2024)
• Vamanan Avenue: Rs 2,960 per sq.ft (2024)
• Vasantham Nagar: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar S.No.539/1: Rs 880 per sq.ft (2024)
• Vasantham Nagar S.Nos.539/1, 540/1a: Rs 880 per sq.ft (2024)
• Velankanni Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vaidegi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers Vaidegi Nagar?

The Sub Registrar Office that covers Vaidegi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value serves as a benchmark for the minimum value on which these fees are calculated. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vaidegi Nagar?

The current guideline value of Vaidegi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the land classification of Vaidegi Nagar?

Vaidegi Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Vaidegi Nagar?

The Sub Registrar Office for Vaidegi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Vaidegi 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 11,00,000, the stamp duty would be Rs 77,000 at 7%.