Guideline Value for VASAN STREET

Vasan Street guideline value

The current guideline value for Vasan Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of Vasan Street has changed

The guideline value for Vasan Street has seen significant changes over the years. In the 2002 revision, the value was Rs 1,380 per sq.ft. This increased to Rs 1,900 per sq.ft in the 2003 revision, marking a change of +38%. The 2007 revision saw a substantial jump to Rs 3,000 per sq.ft, which is a +58% increase from the previous revision. The value then rose to Rs 12,000 per sq.ft in the 2012 revision, reflecting a +300% change from 2007. However, in the 2017 revision, it decreased to Rs 8,040 per sq.ft, showing a decline of -33%. The value then increased again to Rs 12,000 per sq.ft in the 2023 revision, before reaching the current figure of Rs 13,200 per sq.ft in the 2024 revision, which is a +10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +857%. There are no figures available for the years not mentioned in this register for Vasan Street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing Vasan Street's 2024 figure above this median.

• Varadaraja Mudali Street: Rs 6,600 per sq.ft (2024)
• Valmiki Street: Rs 14,300 per sq.ft (2024)
• Vaidyaraman Street: Rs 14,300 per sq.ft (2024)
• Usman Road(Part I New Boag Road To Bus Stand: Rs 27,500 per sq.ft (2024)
• Usman Road (Part III Nageswara Rao Road To Kodambakkam High Road): Rs 27,500 per sq.ft (2024)
• Usman Road (Part II Bus Stand To Pangal Park): Rs 27,500 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 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total to Rs 11,88,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasan Street?

The Sub Registrar Office that covers Vasan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Tnagar

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these charges are based on the official valuation of the property.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value for Vasan Street?

The current guideline value for Vasan Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,380 per sq.ft in 2002 and reaching Rs 13,200 per sq.ft in 2024, which is an overall increase of +857%.

What is the land classification for Vasan Street?

Vasan Street is classified as Mixed Special Type - II under the current land classification.

Where can I find the Sub Registrar Office for Vasan Street?

The Sub Registrar Office for Vasan Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for property in Vasan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 9,24,000 at a rate of 7%.