Guideline Value for Vaishnavi Nagar

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Vaishnavi Nagar has changed

The guideline value for Vaishnavi Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, marking a 600% rise. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, reflecting a decline of 33%. Following this, the value rose again to Rs 700 per sq.ft in 2023 and remained the same in the 2024 revision, showing no change between these two years.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 600%, reaching the current rate of Rs 700 per sq.ft.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. Vaishnavi Nagar's current guideline value is equal to this median.

• Vaishnavi Avenue: Rs 700 per sq.ft (2024)
• Vasanthapuram: Rs 700 per sq.ft (2024)
• Venkat Avenue: Rs 2,389 per sq.ft (2024)
• Venus Nagar: Rs 500 per sq.ft (2024)
• Thirukural Nagar Phase I: Rs 700 per sq.ft (2024)
• Thirukural Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnavi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, resulting in a total of Rs 63,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor when buying or selling property in Kayirambedu, as it determines the minimum value at which property transactions are registered. It is used to calculate the stamp duty and registration fees that need to be paid during the registration process.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that the government receives the appropriate revenue from property transactions, and it helps maintain a standardized valuation across the region.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Vaishnavi Nagar?

Vaishnavi Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

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

The Sub Registrar Office for Vaishnavi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

Stamp duty for properties in Vaishnavi Nagar is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.