Guideline Value for Vaishnavi Nagar

Vaishnavi Nagar guideline value

The current guideline value of Vaishnavi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Thiruvallur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

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 guideline value was Rs 200 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024.

From 2017 to 2023, the guideline value rose by 49%, and from 2023 to 2024, there was an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 725%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Thiruvallur

In Thiruvallur, there are 172 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 3,850 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, making the guideline value of Vaishnavi Nagar above this median. Here are some other streets in Thiruvallur:

• Vallalar Street: Rs 1,650 per sq.ft (2024)
• Vallalar Street Lane: Rs 1,320 per sq.ft (2024)
• U.V Saminthaiyyer Street: Rs 1,100 per sq.ft (2024)
• Vallalpari Street: Rs 1,100 per sq.ft (2024)
• Valluvarpuram: Rs 1,100 per sq.ft (2024)
• Vanjinathan Street: Rs 1,650 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost together to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Sub Registrar Office that covers Vaishnavi Nagar is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Thiruvallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of Vaishnavi Nagar?

The current guideline value of Vaishnavi Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 725% over the years.

What are the other streets with guideline values in Thiruvallur?

Other streets in Thiruvallur include Vallalar Street at Rs 1,650 per sq.ft, Vallalar Street Lane at Rs 1,320 per sq.ft, and U.V Saminthaiyyer Street at Rs 1,100 per sq.ft, among others.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Vaishnavi Nagar?

The Tiruvallur Joint 1 Sub Registrar Office covers Vaishnavi Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.