Guideline Value for Vaigai Street(GANGA NAGAR)

Vaigai Street(GANGA NAGAR) guideline value

The current guideline value of Vaigai Street(GANGA NAGAR) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vaigai Street(GANGA NAGAR) has changed

The guideline value for Vaigai Street(GANGA NAGAR) has seen several revisions over the years. In 2007, the guideline value was Rs 650 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023 and further to Rs 3,300 per sq.ft in 2024. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value rose by 49%, while the increase from 2023 to 2024 was 10%. The overall change from 2007 to 2024 reflects a substantial increase of 408%. The fluctuations in the guideline value highlight the dynamic nature of property valuation in this area.

Guideline values in Moovarasampattu

In Moovarasampattu village, there are 68 streets under the Alandur SRO, with guideline values for 2024 ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Vaigai Street(GANGA NAGAR).

• Thungapathira Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Thamirabarani Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Yamunai Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)
• Yerikkarai Street: Rs 3,300 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 3,300 per sq.ft (2024)
• Sindhu Street(GANGA NAGAR): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Street(GANGA NAGAR)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Street(GANGA NAGAR)?

Vaigai Street(GANGA NAGAR) falls under the jurisdiction of 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 Moovarasampattu

The guideline value is a crucial factor during property registration in Moovarasampattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair assessment of the property's worth.

When buying or selling property, the guideline value impacts the stamp duty and registration fees, which are calculated based on this value. Buyers should be aware that these costs can significantly affect the overall expense of the transaction.

Frequently asked questions

What is the current guideline value of Vaigai Street(GANGA NAGAR)?

The current guideline value of Vaigai Street(GANGA NAGAR) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024. Significant changes occurred in 2017, where it dropped to Rs 2,010 per sq.ft, before rising again in subsequent years.

What is the land classification for Vaigai Street(GANGA NAGAR)?

Vaigai Street(GANGA NAGAR) is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Vaigai Street(GANGA NAGAR)?

The Alandur Sub Registrar Office, which covers Vaigai Street(GANGA NAGAR), is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.