Guideline Value for Vaigai Nagar

Vaigai Nagar guideline value

The current guideline value of Vaigai Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Palur-A village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Vaigai Nagar has changed

In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 400 per sq.ft. The 2024 revision also maintains this value at Rs 400 per sq.ft, indicating no change from the previous year. The register has no figure for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, reflecting a consistent valuation in recent revisions.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, making Vaigai Nagar's 2024 figure equal to this median.

• Vaigai Avenue: Rs 400 per sq.ft (2024)
• V G R Nagar: Rs 400 per sq.ft (2024)
• Wildseed Gardens: Rs 300 per sq.ft (2024)
• S.R.K.Avenue: Rs 400 per sq.ft (2024)
• Sri Vinay Nagar: Rs 400 per sq.ft (2024)
• Sri Srinivasa Avenue Part-II: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaigai Nagar?

The Sub Registrar Office that covers Vaigai 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 more details.

How the guideline value is used when you buy or sell in Palur-A

The guideline value plays a crucial role during the registration of property transactions in Palur-A. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property in the area.

When a property is sold, the guideline value is considered as a benchmark for the transaction. The stamp duty is calculated based on the higher value between the guideline value and the sale price, ensuring that the appropriate fees are collected during the registration process.

Frequently asked questions

What is the current guideline value of Vaigai Nagar?

The current guideline value of Vaigai Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vaigai Nagar has remained at Rs 400 per sq.ft from 2023 to 2024. It increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Vaigai Nagar?

Vaigai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty rates in Vaigai Nagar?

The stamp duty rate for property in Vaigai Nagar is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

The Sub Registrar Office for Vaigai Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.