Guideline Value for Vaigundanathar Street

Vaigundanathar Street guideline value

The current guideline value of Vaigundanathar Street is Rs 805 per sq.ft, effective from 1 July 2024. This street is located in Kovilpathagai village under the Ambattur SRO and is classified as Residential Class II Type - II.

How the guideline value of Vaigundanathar Street has changed

The guideline value for Vaigundanathar Street has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. This marked a significant drop of 33%. However, from 2017 to 2023, the value increased by 72%, bringing it back to Rs 805 per sq.ft in 2023. The 2024 revision also maintains this value at Rs 805 per sq.ft, indicating no change from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 15%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Vaigundanathar Street's 2024 figure below this median.

• Vanianchatram High Road: Rs 880 per sq.ft (2024)
• Vannan Street: Rs 806 per sq.ft (2024)
• Vanna Tank: Rs 806 per sq.ft (2024)
• Vanniyar Street: Rs 805 per sq.ft (2024)
• Varatharajan Street: Rs 805 per sq.ft (2024)
• Trinity Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vaigundanathar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 805 per sq.ft, the total guideline value would be Rs 8,05,000. The stamp duty at 7% would amount to Rs 56,350, and the registration fee at 2% would be Rs 16,100, bringing the total cost for these fees to Rs 72,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vaigundanathar Street?

The Sub Registrar Office that covers Vaigundanathar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the stamp duty and registration fees are calculated based on the higher of the guideline value or the agreed sale price.

During the registration process, the guideline value ensures that the government receives appropriate revenue from property transactions. Buyers should be aware of the guideline value to understand the potential costs associated with purchasing property in the area.

Frequently asked questions

What is the current guideline value of Vaigundanathar Street?

The current guideline value of Vaigundanathar Street is Rs 805 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 805 per sq.ft in 2023 and remains the same in 2024.

What is the median guideline value for streets in Kovilpathagai?

The median guideline value for streets in Kovilpathagai is Rs 870 per sq.ft, with Vaigundanathar Street's 2024 figure being below this median.

What fees are associated with buying property in Vaigundanathar Street?

When buying property in Vaigundanathar Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Which office handles the registration for Vaigundanathar Street?

The Ambattur Sub Registrar Office handles the registration for Vaigundanathar Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.