Guideline Value for Vaishnavi Nagar 1st Street

Vaishnavi Nagar 1st Street guideline value

The current guideline value of Vaishnavi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Special Type - II.

How the guideline value of Vaishnavi Nagar 1st Street has changed

Over the years, the guideline value of Vaishnavi Nagar 1st Street has seen significant changes. In the 2007 revision, the value was Rs 666 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, there was a decrease to Rs 1,675 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 2,500 per sq.ft, followed by an increase to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a substantial increase of 275%. Overall, from 2007 to 2024, the guideline value has increased by 305%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value of Vaishnavi Nagar 1st Street is above this median.

• Vaishnavi Nagar 10th Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 2nd Street 1 Cross Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 2nd Street 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 2nd Street 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 2nd Street 4th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnavi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vaishnavi Nagar 1st Street?

The Sub Registrar Office that covers Vaishnavi Nagar 1st 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 Thirumullaivoyal

The guideline value is a crucial factor during property registration in Thirumullaivoyal, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby protecting the interests of both buyers and sellers. It is essential for all parties involved to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar 1st Street?

The current guideline value of Vaishnavi Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 666 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 305%.

What is the land classification for Vaishnavi Nagar 1st Street?

Vaishnavi Nagar 1st Street is classified as Residential Special Type - II.

Where can I find the Sub Registrar Office for Vaishnavi Nagar 1st Street?

The Sub Registrar Office for Vaishnavi Nagar 1st Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Vaishnavi Nagar 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.