Guideline Value for NEW VAZHAIMA NAGAR 2ND CROSS STREET

New Vazhaima Nagar 2nd Cross Street guideline value

The current guideline value for New Vazhaima Nagar 2nd 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 2nd Cross Street has changed

The guideline value for New Vazhaima Nagar 2nd Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a change of 257%. The most recent revision in 2024 saw the guideline value rise to Rs 2,700 per sq.ft, reflecting an 8% increase from the 2012 figure.

It is important to note that there are no figures available for the years 2003, 2002, 2017, and 2023 for this street. Overall, from the 2007 revision to the 2024 revision, 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 current value for New Vazhaima Nagar 2nd Cross Street.

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

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

For further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers New Vazhaima Nagar 2nd 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 information.

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

The guideline value is an essential reference when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which property transactions can be registered. This value is crucial for calculating stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the buyer must ensure that the transaction adheres to the guideline value to avoid any legal issues during registration. It is advisable to consult with the Sub Registrar Office for accurate information regarding the applicable guideline value for specific properties.

Frequently asked questions

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

The current guideline value for New Vazhaima Nagar 2nd 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 increased from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, representing an overall increase of 286%.

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

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

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

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

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,89,000.