Guideline Value for VASAN STREET

Vasan Street guideline value

The current guideline value of Vasan Street, located in Perambur village under the Purasaivakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II land classification.

How the guideline value of Vasan Street has changed

The guideline value of Vasan Street has seen significant changes over the years. In 2002, the guideline value was Rs 465 per sq.ft. This increased to Rs 510 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial increase to Rs 800 per sq.ft in 2007, which was a 57% increase. Following this, the value surged dramatically to Rs 3,500 per sq.ft in 2012, reflecting an increase of 338%. However, it dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,800 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 717%. The register has no figures for the years not listed above.

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, with a median value of Rs 2,700 per sq.ft. The guideline value of Vasan Street is above this median.

• Vasantham Garden East Avenue: Rs 4,300 per sq.ft (2024)
• Varadappan Street: Rs 1,600 per sq.ft (2024)
• Vasugi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. 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 Vasan Street?

The Sub Registrar Office that covers Vasan 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 during the registration of property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction value. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate the associated costs.

Frequently asked questions

What is the current guideline value of Vasan Street?

The current guideline value of Vasan Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 465 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 717%.

What is the land classification of Vasan Street?

Vasan Street is classified as Residential Class II Type - II under the land classification system.

What are the stamp duty and registration fees for property in Vasan Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Sub Registrar Office for Vasan Street located?

The Sub Registrar Office covering Vasan Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.