Guideline Value for Vajirapuram

Vajirapuram guideline value

The current guideline value of Vajirapuram is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village under the Acchirapakkam SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Vajirapuram has changed

Over the years, the guideline value of Vajirapuram has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 100 per sq.ft. This increased to Rs 150 per sq.ft in 2012, but then decreased to Rs 100 per sq.ft again in 2017. The 2017 revision saw a significant increase to Rs 250 per sq.ft in 2023, which has remained unchanged in the 2024 revision.

The changes between these revisions highlight a 150% increase from the 2017 to 2023 revision, while the 2012 to 2017 revision experienced a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 150%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that have a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Vajirapuram is below this median.

• Varada Reddiar Colony: Rs 400 per sq.ft (2024)
• Thulasi Garden: Rs 374 per sq.ft (2024)
• Thoppu Street Ward 10: Rs 350 per sq.ft (2024)
• Venkatesapuram: Rs 400 per sq.ft (2024)
• Venkatesapuram 1st Street Ward 14: Rs 300 per sq.ft (2024)
• Venkatesapuram 2rd Street Ward 15: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vajirapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty is calculated at 7%, which comes to Rs 17,500, and the registration fee at 2% totals Rs 5,000. Therefore, the combined cost for stamp duty and registration fee is Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vajirapuram?

The Sub Registrar Office that covers Vajirapuram is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Acharapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty and registration fees based on either 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 Vajirapuram?

The current guideline value of Vajirapuram is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value of Vajirapuram changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 150 per sq.ft in 2012, then decreased to Rs 100 per sq.ft in 2017, and increased to Rs 250 per sq.ft in 2023, remaining the same in 2024.

What are the guideline values of other streets in Acharapakkam?

Other streets in Acharapakkam have varying guideline values, with rates ranging from Rs 250 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft.

What is the stamp duty rate in Vajirapuram?

The stamp duty rate in Vajirapuram is 7% of the guideline value or the sale price, whichever is higher.

Where is the Acchirapakkam Sub Registrar Office located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.