Guideline Value for Vaigai Street

Vaigai Street guideline value

The current guideline value of Vaigai Street in Irumpuliyur village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Vaigai Street has changed

The guideline value for Vaigai Street has seen significant changes over the years. In the 2007 revision, the guideline value was Rs 500 per sq.ft. This increased dramatically to Rs 2,300 per sq.ft in the 2012 revision, marking a 360% rise. However, in 2017, the value dropped to Rs 1,541 per sq.ft, a decrease of 33%. The 2023 revision set the value at Rs 2,300 per sq.ft, which then increased by 10% to reach the current 2024 figure of Rs 2,530 per sq.ft.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 406%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Vaigai Street's current value above this median.

• U.V.Swaminathan Iyer Street: Rs 3,850 per sq.ft (2024)
• Uma Nagar: Rs 2,200 per sq.ft (2024)
• T.T.K Nagar Extn: Rs 2,200 per sq.ft (2024)
• T.T.K. Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• T.T.K.Nagar 2-nd Main Road: Rs 2,200 per sq.ft (2024)
• T.T.K. Nagar 2nd Cross Street: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaigai Street?

The Sub Registrar Office that covers Vaigai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Irumpuliyur

The guideline value is a crucial factor when buying or selling property in Irumpuliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value or the sale price is used to calculate the applicable duties, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaigai Street?

The current guideline value of Vaigai Street is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 406% over the years.

What is the classification of land on Vaigai Street?

Vaigai Street is classified as Residential Special Type - I, indicating its intended use for residential purposes.

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

The Sub Registrar Office for Vaigai Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How is the stamp duty calculated for properties on Vaigai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 at 7%.