Guideline Value for NEW VAZHAIMA NAGAR 1ST CROSS STREET

New Vazhaima Nagar 1st Cross Street guideline value

The current guideline value of New Vazhaima Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of New Vazhaima Nagar 1st Cross Street has changed

The guideline value for New Vazhaima Nagar 1st Cross Street has undergone several revisions over the years. The oldest recorded revision is from 2007, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 257%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, which is a decline of 33%. The most recent revision in 2024 sees the guideline value rise again to Rs 2,700 per sq.ft, reflecting an increase of 61% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 286%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the guideline value of New Vazhaima Nagar 1st Cross Street.

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

Stamp duty and registration fee for property in New Vazhaima Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Vazhaima Nagar 1st Cross Street?

The Sub Registrar Office that covers New Vazhaima Nagar 1st Cross Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as determined by the state. This process aids in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of New Vazhaima Nagar 1st Cross Street?

The current guideline value of New Vazhaima Nagar 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 286%.

What are the stamp duty and registration fees for property in New Vazhaima Nagar 1st Cross Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 2,43,000.

Which Sub Registrar Office covers New Vazhaima Nagar 1st Cross Street?

The Purasaivakkam Sub Registrar Office covers New Vazhaima Nagar 1st Cross Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

Where can I find more information about guideline values in Perambur?

For more information about guideline values in Perambur, you can refer to the relevant sections on the Registration Department's website or consult the local Sub Registrar Office.