Guideline Value for NEW VAZHAIMA NAGAR 2ND STREET

New Vazhaima Nagar 2nd Street guideline value

The current guideline value of New Vazhaima Nagar 2nd 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 it falls under the Residential Class III Type - II land classification.

How the guideline value of New Vazhaima Nagar 2nd Street has changed

The guideline value for New Vazhaima Nagar 2nd Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 700 per sq.ft. This figure saw a significant increase in the 2012 revision, rising to Rs 2,500 per sq.ft, representing a change of 257%. The most recent revision in 2024 has further increased the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the 2012 revision.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%. There are no figures available for the years 2002, 2003, 2017, and 2023 for this street in the register.

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 value for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for New Vazhaima Nagar 2nd Street.

• New Vazhaima Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to 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.

You can use the stamp duty and registration fee calculator for more information on fees applicable to property transactions.

Which Sub Registrar Office covers New Vazhaima Nagar 2nd Street?

The Sub Registrar Office that covers New Vazhaima Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more details, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Perambur, as it is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are paying the correct fees based on the property being transacted.

When a property is sold, the registration office will use the guideline value to assess the applicable charges. This ensures that the fees are based on a standardized value, providing clarity and consistency in property transactions.

Frequently asked questions

What is the current guideline value for New Vazhaima Nagar 2nd Street?

The current guideline value for New Vazhaima Nagar 2nd 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 from Rs 700 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2012, and then to Rs 2,700 per sq.ft in 2024. This represents an overall increase of 286% from 2007 to 2024.

What is the land classification for New Vazhaima Nagar 2nd Street?

New Vazhaima Nagar 2nd Street is classified under Residential Class III Type - II.

Where can I find the registration office for New Vazhaima Nagar 2nd Street?

The registration office for New Vazhaima Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in New Vazhaima Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 1,89,000.