Guideline Value for NEW VAZHAIMA NAGAR 3RD STREET

New Vazhaima Nagar 3rd Street guideline value

The current guideline value of New Vazhaima Nagar 3rd Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of New Vazhaima Nagar 3rd Street has changed

The guideline value for New Vazhaima Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, where the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a change of 257%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, which is an 8% increase from the 2012 figure.

It is important to note that there are no recorded figures for this street in the revisions for the years 2002, 2003, 2017, and 2023. 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, with the 2024 guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for New Vazhaima Nagar 3rd Street.

• New Vazhaima Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 3rd 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, and 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Vazhaima Nagar 3rd Street?

The Sub Registrar Office that covers New Vazhaima Nagar 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of New Vazhaima Nagar 3rd Street?

The current guideline value of New Vazhaima Nagar 3rd 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, marking an overall increase of 286% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which Sub Registrar Office covers New Vazhaima Nagar 3rd Street?

The Purasaivakkam Sub Registrar Office covers New Vazhaima Nagar 3rd Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for New Vazhaima Nagar 3rd Street?

The land classification for New Vazhaima Nagar 3rd Street is Residential Class III Type - II.