Guideline Value for Vaigai Nagar

Vaigai Nagar guideline value

The current guideline value of Vaigai Nagar is Rs 2,000 per sq.ft as per the 2023 revision. This area falls under Urapakkam village, governed by the Gooduvancheri SRO. The land classification for this area is Mixed Special Type - I.

How the guideline value of Vaigai Nagar has changed

Over the years, the guideline value of Vaigai Nagar has seen several revisions. The 2007 revision set the value at Rs 550 per sq.ft, which rose significantly to Rs 2,000 per sq.ft in the 2012 revision, marking an increase of 264%. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The most recent 2023 revision has brought the value back up to Rs 2,000 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 264%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Urapakkam

While specific figures for other streets in Urapakkam are not provided, Vaigai Nagar is part of the Urapakkam area under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Vaigai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000. Together, the total cost for stamp duty and registration fee would be Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Urapakkam, as it determines the minimum value at which a property can be registered. Buyers must be aware that the stamp duty and registration fees are calculated based on this guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vaigai Nagar?

The current guideline value of Vaigai Nagar is Rs 2,000 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012, then decreased to Rs 1,340 per sq.ft in 2017, and returned to Rs 2,000 per sq.ft in 2023.

What is the land classification for Vaigai Nagar?

Vaigai Nagar is classified as Mixed Special Type - I according to the land classification details.

What are the stamp duty and registration fees for property in Vaigai Nagar?

For a property valued at Rs 20,00,000, the stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

Which office handles the registration for Vaigai Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Vaigai Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.