Guideline Value for NEW VAZHAIMA NAGAR 8TH STREET

New Vazhaima Nagar 8th Street guideline value

The current guideline value of New Vazhaima Nagar 8th 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 8th Street has changed

The guideline value for New Vazhaima Nagar 8th Street has seen significant changes over the years. In 2007, the value was Rs 700 per sq.ft, which increased to Rs 1,675 per sq.ft in the 2017 revision, marking a 139% rise. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, representing a 61% increase from 2017.

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, 2012, and 2023 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the guideline value for New Vazhaima Nagar 8th Street.

• New Vazhaima Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 6th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar Main Road: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 5th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 4th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in New Vazhaima Nagar 8th 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, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Vazhaima Nagar 8th Street?

The Sub Registrar Office that covers New Vazhaima Nagar 8th 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 of property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of New Vazhaima Nagar 8th Street?

The current guideline value of New Vazhaima Nagar 8th Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 286%, from Rs 700 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024.

What is the land classification for New Vazhaima Nagar 8th Street?

New Vazhaima Nagar 8th Street is classified as Residential Class III Type - II.

Where can I find the registration office for this area?

The registration office for New Vazhaima Nagar 8th 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 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at 7%.