Guideline Value for Vaigai Street

Vaigai Street guideline value

The current guideline value of Vaigai Street in Kadaperi village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Vaigai Street has changed

Over the years, the guideline value of Vaigai Street has seen several revisions. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 150%. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft, reflecting a decrease of 33%. The value then rose sharply to Rs 1,000 per sq.ft in 2023, and the latest revision in 2024 has set the guideline value at Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Vaigai Street's 2024 figure is below this median.

• Valluvar Gurukulam South Street: Rs 1,650 per sq.ft (2024)
• T.P. Sanatorium Ist Main Road: Rs 1,650 per sq.ft (2024)
• Tnhb: Rs 1,100 per sq.ft (2024)
• Thomas West Street: Rs 1,650 per sq.ft (2024)
• Thomas Street: Rs 3,300 per sq.ft (2024)
• Thomas South Street: Rs 1,650 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total charges Rs 99,000. 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 information.

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.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kadaperi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that both the buyer and seller are aware of the financial implications associated with the transaction.

Frequently asked questions

What is the current guideline value of Vaigai Street?

The current guideline value of Vaigai Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vaigai Street has seen several revisions, increasing from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, which is a total increase of 175% over the period.

What is the land classification of Vaigai Street?

Vaigai Street is classified as Residential Class II Type - I, indicating its suitability 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 stamp duty calculated for properties in Vaigai Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 1,100 per sq.ft, the total stamp duty would be Rs 77,000.