Guideline Value for Vaishnavi Nagar

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Mettupalayam village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vaishnavi Nagar has changed

Over the years, the guideline value of Vaishnavi Nagar has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, making Vaishnavi Nagar's 2024 figure above that median.

• Vaithegi Nagar: Rs 200 per sq.ft (2024)
• Vasantham Gardens: Rs 181 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• V.G.P Vinoth Town: Rs 181 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mettupalayam. It is the minimum value set by the government for property transactions, ensuring that the property is registered at a value that reflects its worth according to official standards.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

The current guideline value of Vaishnavi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 200 per sq.ft in 2024, unchanged from 2023. The value was Rs 134 per sq.ft in 2017, indicating a significant increase over the years.

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

The Sub Registrar Office for Vaishnavi Nagar is located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What are the stamp duty and registration fees for property in Vaishnavi Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000. These fees are based on the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum price at which a property can be registered. It ensures that the property transaction is recorded at a value that reflects government standards, affecting the stamp duty and registration fees payable during the process.