Guideline Value for Vaikai Nagar

Vaikai Nagar guideline value

The current guideline value of Vaikai Nagar is Rs 1,102 per sq.ft, effective from 1 July 2024. This area is located in Allappakkam village under the Chengleput Joint I SRO, classified as Residential Special Type - III.

How the guideline value of Vaikai Nagar has changed

The guideline value for Vaikai Nagar has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 1,100 per sq.ft. This was followed by a decrease to Rs 737 per sq.ft in 2017. In the subsequent revision in 2023, the value returned to Rs 1,100 per sq.ft, and in the latest revision for 2024, it slightly increased to Rs 1,102 per sq.ft, showing no percentage change from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it experienced a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has remained stable with an overall change of 0%.

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, with the median value being Rs 1,102 per sq.ft. Vaikai Nagar's 2024 guideline value aligns exactly with this median.

• Vaikai Nagar Ext-I: 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

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, making the total cost Rs 99,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vaikai Nagar?

Vaikai Nagar falls under the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Allappakkam. It determines the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaikai Nagar?

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

How has the guideline value changed over the years?

The guideline value of Vaikai Nagar has had several revisions, with notable changes in 2017 and 2023. The value decreased from Rs 1,100 in 2012 to Rs 737 in 2017, then returned to Rs 1,100 in 2023, and finally increased to Rs 1,102 in 2024.

What is the land classification of Vaikai Nagar?

Vaikai Nagar is classified as Residential Special Type - III, indicating its intended use for residential purposes within the area.

Where can I find the registration office for Vaikai Nagar?

The Chengleput Joint I Sub Registrar Office covers Vaikai Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,102 per sq.ft would incur a total cost of Rs 99,180 for stamp duty and registration fees combined.