Guideline Value for NEW VAZHAIMA NAGAR 3RD CROSS STREET

New Vazhaima Nagar 3rd Cross Street guideline value

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

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

The guideline value for New Vazhaima Nagar 3rd Cross Street has undergone several revisions since 2007. In 2007, 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 set the guideline value at Rs 2,700 per sq.ft, which is an increase of +8% from the 2012 figure.

Overall, from 2007 to 2024, the guideline value has increased by +286%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

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 equal to the current guideline value for New Vazhaima Nagar 3rd Cross Street.

• New Vazhaima Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 5th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 3rd 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, and the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration fee 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 further calculations, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers New Vazhaima Nagar 3rd 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 a crucial 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 applicable on the transaction, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value for New Vazhaima Nagar 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 2,700 per sq.ft in 2024. The most significant jump occurred between 2007 and 2012, where it rose by 257%.

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

The land classification for New Vazhaima Nagar 3rd Cross Street is Residential Class III Type - II, indicating its use for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total stamp duty and registration fee of Rs 2,43,000.

Which Sub Registrar Office should I go to for transactions in New Vazhaima Nagar 3rd Cross Street?

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