Guideline Value for Vaishnavi Nagar

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 804 per sq.ft, effective from 1 July 2024. This area is located in 44.Ayanambakkam village under the Konnur SRO, classified as Residential Class IV Type - II.

How the guideline value of Vaishnavi Nagar has changed

The guideline value of Vaishnavi Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 469 per sq.ft, which increased to Rs 804 per sq.ft in the 2023 revision. The 2024 revision maintained this value at Rs 804 per sq.ft, indicating no change from the previous year. Notably, the increase from 2017 to 2023 was 71%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 71%.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, which indicates that Vaishnavi Nagar's 2024 figure is below that median.

• VadaNoombal Salai: Rs 1,100 per sq.ft (2024)
• Vanagaram Road: Rs 2,200 per sq.ft (2024)
• Vellalar Street: Rs 1,700 per sq.ft (2024)
• Vengateshwara Industrial Estate: Rs 2,750 per sq.ft (2024)
• Thiruverkadu Road: Rs 1,100 per sq.ft (2024)
• Thiruvalluvar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vaishnavi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 8,04,000. The stamp duty at 7% would be Rs 56,280, and the registration fee at 2% would be Rs 16,080, totaling Rs 72,360. It's important to note that 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 further calculations.

Which Sub Registrar Office covers Vaishnavi Nagar?

Vaishnavi Nagar falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value plays a crucial role during the registration of property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is documented at a value that reflects the prevailing market conditions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties involved in the transaction are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

The current guideline value of Vaishnavi Nagar is Rs 804 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 71%, rising from Rs 469 per sq.ft to Rs 804 per sq.ft in the 2024 revision.

What are the stamp duty rates for property in Vaishnavi Nagar?

The stamp duty rate for property transactions in Vaishnavi Nagar is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value in 44.Ayanambakkam is Rs 1,300 per sq.ft, which indicates that Vaishnavi Nagar's guideline value is below this median.