Guideline Value for VASAVI NAGAR

Vasavi Nagar guideline value

The current guideline value of Vasavi Nagar is Rs 330 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasavi Nagar has changed

The guideline value of Vasavi Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 50 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 201 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 saw the value rise to Rs 300 per sq.ft, followed by a further increase to Rs 330 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 560%. It is important to note that the register has no figures for this street in the years 2002 and 2003.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median guideline value is Rs 330 per sq.ft, which is equal to the current value of Vasavi Nagar.

• Veeravanji Road: Rs 330 per sq.ft (2024)
• Vela Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Vallal Seethagathi Nagar: Rs 330 per sq.ft (2024)
• Vadiudaiamman Nagar: Rs 330 per sq.ft (2024)
• Venkatesa Nagar: Rs 330 per sq.ft (2024)
• Venkatraman Nagar: 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 rate, the guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, while the registration fee at 2% would be Rs 6,600, bringing the total to Rs 29,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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 Nanthiambakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration 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 has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 330 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the other streets in Nanthiambakkam with the same guideline value?

Other streets in Nanthiambakkam with the same guideline value of Rs 330 per sq.ft include Veeravanji Road, Vela Vinayagar Nagar, Vallal Seethagathi Nagar, Vadiudaiamman Nagar, Venkatesa Nagar, and Venkatraman Nagar.

What is the stamp duty rate for properties in Vasavi Nagar?

The stamp duty rate for properties in Vasavi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Vasavi Nagar located?

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