Guideline Value for Vaigai Nagar

Vaigai Nagar guideline value

The current guideline value of Vaigai Nagar, located in Perumattu Nellore village, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Vaigai Nagar has changed

The guideline value for Vaigai Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 120 per sq.ft. It then increased significantly by 483% to Rs 700 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease of 33%, bringing it down to Rs 469 per sq.ft. The value remained stable at Rs 700 per sq.ft from 2017 until the 2023 revision.

In the 2023 revision, the guideline value was Rs 700 per sq.ft, and it has not changed in the 2024 revision, reflecting a 0% change. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 483%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the guideline value of Vaigai Nagar.

• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Varadharaji Nagar: Rs 800 per sq.ft (2024)
• Thungabhadra Nagar: Rs 800 per sq.ft (2024)
• Vetri Velan Nagar: Rs 500 per sq.ft (2024)
• The Central Govt Staff Cooperative Nagar: Rs 500 per sq.ft (2024)
• Thangappapuram: Rs 700 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 700 per sq.ft, the total guideline value is 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, 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaigai Nagar?

Vaigai Nagar is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved. This process helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vaigai Nagar?

The current guideline value of Vaigai 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 several times, with significant increases and decreases. From Rs 120 per sq.ft in 2007, it rose to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, before stabilizing at Rs 700 per sq.ft from 2017 to 2024.

What is the registration office for Vaigai Nagar?

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

How is stamp duty calculated for properties in Vaigai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 700 per sq.ft would incur a total guideline value of Rs 7,00,000, leading to specific fees for stamp duty and registration.

What other streets have guideline values in Perumattu Nellore?

Other streets in Perumattu Nellore include Vanavil Avenue at Rs 501 per sq.ft, Varadharaji Nagar and Thungabhadra Nagar at Rs 800 per sq.ft, and Vetri Velan Nagar and The Central Govt Staff Cooperative Nagar at Rs 500 per sq.ft. Thangappapuram also has a guideline value of Rs 700 per sq.ft.