Guideline Value for Vakboard Colony

Vakboard Colony guideline value

The current guideline value of Vakboard Colony is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Vakboard Colony has changed

The guideline value for Vakboard Colony has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in 2017. However, in the 2023 revision, it increased to Rs 600 per sq.ft, and the latest revision in 2024 has set it at Rs 880 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, there was a significant rise of 47%. Overall, the guideline value has increased by 47% from 2012 to 2024.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Vakboard Colony is below this median.

• Valaiyapathy Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 1st Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vallalar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vallalar 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vakboard Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, resulting in a total of Rs 79,200. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vakboard Colony?

The Sub Registrar Office that covers Vakboard Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate stamp duty and registration fees. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vakboard Colony?

The current guideline value of Vakboard Colony is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Vakboard Colony?

Vakboard Colony is classified as Residential Class IV Type - II.

What are the stamp duty and registration fees for properties in Vakboard Colony?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600, and the registration fee would be Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Vakboard Colony located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.