Guideline Value for Vaishnavi Nagar

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar, located in Kavanur village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Vaishnavi Nagar has changed

The guideline value for Vaishnavi Nagar has seen several revisions over the years. In 2007, the value was Rs 60 per sq.ft, which increased significantly to Rs 700 per sq.ft in the 2012 revision. However, this figure remained unchanged until 2017, when it was revised to Rs 469 per sq.ft. The 2023 revision maintained the value at Rs 700 per sq.ft, and this will continue into the 2024 revision.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 1067%, while the value dropped by 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, but there was no change from 2023 to 2024.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO with a 2024 guideline value range from Rs 500 to Rs 2,239 per sq.ft. The median value for these streets is Rs 800 per sq.ft, placing Vaishnavi Nagar's 2024 figure below that median.

• Toshan Garden: Rs 800 per sq.ft (2024)
• Vatchala Garden: Rs 500 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 800 per sq.ft (2024)
• V.G.N. Southern County Phase-II: Rs 600 per sq.ft (2024)
• Vgn Southern Meadows Phase IV: Rs 2,239 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 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, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kavanur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that transactions are recorded at a fair value as determined by the state.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for legal and financial purposes. Buyers and sellers should be aware of the guideline value to ensure compliance with state regulations during the registration process.

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 multiple times, with the most significant increase occurring from Rs 60 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, and it has remained at Rs 700 per sq.ft since the 2012 revision until the 2024 revision.

What is the land classification for Vaishnavi Nagar?

The land classification for Vaishnavi Nagar is Residential Special Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 63,000.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find more details by visiting the relevant link.