Guideline Value for Vaishnavi Nagar 5th Street

Vaishnavi Nagar 5th Street guideline value

The current guideline value of Vaishnavi Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village and falls under the Ambattur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Vaishnavi Nagar 5th Street has changed

The guideline value for Vaishnavi Nagar 5th Street has seen several revisions over the years. The 2007 revision recorded a value of Rs 666 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this value dropped to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. From 2017 to 2023, the value rose sharply by 49% to reach Rs 2,500 per sq.ft, and it has now increased to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% change.

It is important to note that there are no recorded figures for the years 2002 and 2003 for Vaishnavi Nagar 5th Street. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 305%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Vaishnavi Nagar 5th Street above this median with its current value of Rs 2,700 per sq.ft.

• Vaishnavi Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 3rd Street 3rd cross St.: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 6th Street Cross Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Vaishnavi Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnavi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Therefore, the total cost for stamp duty and registration fees would be 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.

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

Which Sub Registrar Office covers Vaishnavi Nagar 5th Street?

The Sub Registrar Office that covers Vaishnavi Nagar 5th 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thirumullaivoyal. It is used to determine the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar 5th Street?

The current guideline value of Vaishnavi Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What is the land classification for Vaishnavi Nagar 5th Street?

The land classification for Vaishnavi Nagar 5th Street is Residential Special Type - II.

Which office handles the registration for properties in Vaishnavi Nagar 5th Street?

The Ambattur Sub Registrar Office handles the registration for properties in Vaishnavi Nagar 5th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

How is the stamp duty calculated for properties in Thirumullaivoyal?

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