Guideline Value for NEW VAZHAIMA NAGAR 6TH STREET

New Vazhaima Nagar 6th Street guideline value

The current guideline value of New Vazhaima Nagar 6th 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 6th Street has changed

The guideline value for New Vazhaima Nagar 6th Street has undergone significant changes since the 2007 revision. In 2007, the guideline value was Rs 700 per sq.ft, and it increased to Rs 2,700 per sq.ft in the 2024 revision, marking a change of +286% over this period. The register has no figure for this street for the years 2023, 2017, 2012, 2003, and 2002.

From the 2007 revision to the 2024 revision, the increase reflects the ongoing adjustments in property values in the area. The current rate of Rs 2,700 per sq.ft aligns with the median guideline value for other streets in Perambur under the Purasaivakkam SRO.

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 for these streets is Rs 2,700 per sq.ft, which is the same as the guideline value for New Vazhaima Nagar 6th Street. Below are the guideline values for other streets in Perambur:

• New Vazhaima Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 9th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 6th 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 stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Vazhaima Nagar 6th Street?

The Sub Registrar Office that covers New Vazhaima Nagar 6th 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 plays a crucial role 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 transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of New Vazhaima Nagar 6th Street?

The current guideline value of New Vazhaima Nagar 6th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since the 2007 revision, the guideline value has increased from Rs 700 per sq.ft to Rs 2,700 per sq.ft, reflecting a change of +286% over this period.

What is the land classification for New Vazhaima Nagar 6th Street?

New Vazhaima Nagar 6th Street is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

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

For a 1,000 sq.ft plot 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.

Where is the Sub Registrar Office for New Vazhaima Nagar 6th Street located?

The Purasaivakkam Sub Registrar Office, which covers New Vazhaima Nagar 6th Street, is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.