Guideline Value for Vaigai Street (Bharath Nagar)

Vaigai Street (Bharath Nagar) guideline value

The current guideline value of Vaigai Street (Bharath Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Vaigai Street (Bharath Nagar) has changed

The guideline value for Vaigai Street (Bharath Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was later reduced to Rs 2,345 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,500 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,900 per sq.ft, marking an increase of 11% from the previous year.

In summary, the changes between revisions show a significant increase of 49% from 2017 to 2023, but a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 11%. The guideline register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the 2024 figure for Vaigai Street (Bharath Nagar).

• Vallalar Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• vallMigi Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Valluvar Street: Rs 3,900 per sq.ft (2024)
• ValMeegi Street Kundrakudi Nagar: Rs 3,900 per sq.ft (2024)
• Vanjinathan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Vanuvampet - Pazhandiyamman Koil Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Street (Bharath Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees together to Rs 3,51,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaigai Street (Bharath Nagar)?

The Sub Registrar Office that covers Vaigai Street (Bharath Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value serves as a benchmark for calculating these fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaigai Street (Bharath Nagar)?

The current guideline value of Vaigai Street (Bharath Nagar) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, an increase of 11%. It was Rs 2,345 per sq.ft in 2017, showing a significant increase of 49% to 2023.

What is the land classification for Vaigai Street (Bharath Nagar)?

Vaigai Street (Bharath Nagar) is classified as Residential Class I Type - III under the guideline value register.

Where can I find the registration office for Vaigai Street (Bharath Nagar)?

The registration office for Vaigai Street (Bharath Nagar) is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in Vaigai Street (Bharath Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.