Guideline Value for VASAVI NAGAR

Vasavi Nagar guideline value

The current guideline value of Vasavi Nagar in Athipattu village, under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vasavi Nagar has changed

The guideline value for Vasavi Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 330 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 300 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 201 per sq.ft, marking a significant increase of 49% over the six years leading to 2023. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. This steady rise reflects the updates in the guideline values and the adjustments made by the Registration Department.

Guideline values in Athipattu

Athipattu village has a total of 108 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for the area is Rs 330 per sq.ft, which aligns with the current guideline value for Vasavi Nagar.

• Vasuki Nagar: Rs 330 per sq.ft (2024)
• Veera Pandiya Kattapomman Nagar: Rs 330 per sq.ft (2024)
• Vela Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Vaigunda Perumal Nagar Ext: Rs 330 per sq.ft (2024)
• Vaigunda Perumal Nagar: Rs 330 per sq.ft (2024)
• Usha Bhavani Avenue: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Vasavi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasavi Nagar?

The Sub Registrar Office that covers Vasavi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Athipattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property in Vasavi Nagar, the guideline value will influence the costs associated with the transaction, including stamp duty and registration fees. Buyers should be aware of the current guideline value to accurately assess their financial obligations during the purchase process.

Frequently asked questions

What is the current guideline value of Vasavi Nagar?

The current guideline value of Vasavi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for property in Vasavi Nagar?

For a 1,000 sq.ft plot valued at Rs 330 per sq.ft, the total guideline value is Rs 3,30,000. The stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles property registrations in Vasavi Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Vasavi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Vasavi Nagar?

Vasavi Nagar is classified as Residential Class I Type - I, indicating its designation for residential purposes.