Guideline Value for V.S.P.NAGAR & STREETS

V.S.P.Nagar & Streets guideline value

The current guideline value for V.S.P.Nagar & Streets is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in the village of Thiruninravur-A and falls under the Avadi SRO, classified as Residential Class II Type - III.

How the guideline value of V.S.P.Nagar & Streets has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This increased to Rs 700 per sq.ft in the 2023 revision, marking a substantial rise of 49% over the six years. The most recent revision in 2024 set the value at Rs 750 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a significant increase of 60%. It is important to note that the register has no figures for V.S.P.Nagar & Streets for the years 2002, 2003, 2007, and 2012.

Guideline values in Thiruninravur-A

In Thiruninravur-A, there are 382 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,750 per sq.ft. The median value for this area is Rs 750 per sq.ft, which is the same as the guideline value for V.S.P.Nagar & Streets.

• V.O.C.Nagar: Rs 750 per sq.ft (2024)
• 1st Padi Nagar: Rs 750 per sq.ft (2024)
• Virundavan Nagar: Rs 750 per sq.ft (2024)
• Vinayagar Koil Street: Rs 750 per sq.ft (2024)
• Vilapakkam Subbaiah Nagar: Rs 750 per sq.ft (2024)
• Venumadavan Nagar & Streets: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in V.S.P.Nagar & Streets

For a 1,000 sq.ft plot at the current rate of Rs 750 per sq.ft, the guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, and the registration fee at 2% would be Rs 15,000, leading to a total of Rs 67,500. 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 V.S.P.Nagar & Streets?

The V.S.P.Nagar & Streets area is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruninravur-A

The guideline value plays a crucial role during property registration in Thiruninravur-A. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold, ensuring that the transaction is recorded accurately in the official register.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the necessary fees. This value helps maintain transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value for V.S.P.Nagar & Streets?

The current guideline value for V.S.P.Nagar & Streets is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 469 per sq.ft in 2017 to Rs 750 per sq.ft in 2024, marking an overall increase of 60% over this period.

What are the other streets with the same guideline value?

Other streets in Thiruninravur-A that share the same guideline value of Rs 750 per sq.ft include V.O.C.Nagar, 1st Padi Nagar, Virundavan Nagar, Vinayagar Koil Street, Vilapakkam Subbaiah Nagar, and Venumadavan Nagar & Streets.

What fees are associated with buying property in V.S.P.Nagar & Streets?

When buying property in V.S.P.Nagar & Streets, the buyer must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for V.S.P.Nagar & Streets?

The Sub Registrar Office covering V.S.P.Nagar & Streets is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.