Guideline Value for Vaikai Nagar Ext-I

Vaikai Nagar Ext-I guideline value

The current guideline value of Vaikai Nagar Ext-I is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Allappakkam village and falls under the Chengleput Joint I SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Vaikai Nagar Ext-I has changed

The guideline value for Vaikai Nagar Ext-I has undergone several revisions over the years. In 2012, the value was set at Rs 1,100 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 737 per sq.ft. However, by 2023, the value increased significantly to Rs 1,100 per sq.ft, and it has remained stable at Rs 1,102 per sq.ft in the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, resulting in an overall change from 2012 to 2024 of 0%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Allappakkam

In Allappakkam, there are 51 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 600 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, which is equal to the current guideline value for Vaikai Nagar Ext-I.

• Vaikai Nagar: Rs 1,102 per sq.ft (2024)
• Vaikai Nagar Ext-II: Rs 1,102 per sq.ft (2024)
• Thirustar Rani Managar: Rs 1,200 per sq.ft (2024)
• Thirumugan Avanue: Rs 800 per sq.ft (2024)
• Thirukazhukundam Road: Rs 1,500 per sq.ft (2024)
• Sun City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Vaikai Nagar Ext-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040, resulting in a total of Rs 99,180. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaikai Nagar Ext-I?

The Chengleput Joint I Sub Registrar Office covers Vaikai Nagar Ext-I. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Allappakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vaikai Nagar Ext-I?

The current guideline value of Vaikai Nagar Ext-I is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,102 per sq.ft in 2024. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

What is the land classification for Vaikai Nagar Ext-I?

The land classification for Vaikai Nagar Ext-I is Residential Special Type - III. This classification is important for understanding the permissible uses of the land.

Where can I find the Sub Registrar Office for this area?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Vaikai Nagar Ext-I.

How is stamp duty calculated for properties in Vaikai Nagar Ext-I?

Stamp duty for properties in Vaikai Nagar Ext-I is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 77,140 at a rate of 7%.