Guideline Value for NEW VAZHAIMA NAGAR 5TH STREET

New Vazhaima Nagar 5th Street guideline value

The current guideline value of New Vazhaima Nagar 5th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of New Vazhaima Nagar 5th Street has changed

The guideline value for New Vazhaima Nagar 5th Street has undergone several revisions since 2007. In 2007, the guideline value was Rs 700 per sq.ft, which saw a significant increase 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, reflecting an increase of +8% from the 2012 figure.

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

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 is Rs 2,700 per sq.ft, which is equal to the current guideline value of New Vazhaima Nagar 5th Street.

• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 5th 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, these fees total 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 on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Vazhaima Nagar 5th Street?

The Sub Registrar Office that covers New Vazhaima Nagar 5th 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 crucial factor when buying or selling property in Perambur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the transaction is accurately recorded and that the correct taxes are paid.

Frequently asked questions

What is the current guideline value of New Vazhaima Nagar 5th Street?

The current guideline value of New Vazhaima Nagar 5th 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, reflecting an overall increase of +286% over the years.

What are the stamp duty rates for properties in New Vazhaima Nagar 5th Street?

The stamp duty rate for properties in New Vazhaima Nagar 5th Street is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office handles registrations for New Vazhaima Nagar 5th Street?

The Purasaivakkam Sub Registrar Office handles registrations for New Vazhaima Nagar 5th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, which is the same as the current guideline value for New Vazhaima Nagar 5th Street.