Guideline Value for VASUDEVA NAGAR EXTN

Vasudeva Nagar Extn guideline value

The current guideline value of Vasudeva Nagar Extn is Rs 11,000 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Vasudeva Nagar Extn has changed

The guideline value for Vasudeva Nagar Extn has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 785 per sq.ft. This value increased to Rs 869 per sq.ft in 2003, marking an 11% rise. Subsequent revisions saw significant changes, with the value jumping to Rs 1,800 per sq.ft in 2007, a remarkable increase of 107%. In 2012, the value rose to Rs 10,000 per sq.ft, reflecting a 456% change from the previous revision. However, it then decreased to Rs 6,700 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the value saw a substantial increase to Rs 10,000 per sq.ft, which is a 49% rise. The most recent revision in 2024 set the guideline value at Rs 11,000 per sq.ft, representing a 10% increase from 2023. Overall, the guideline value has increased by 1301% from 2002 to 2024.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median value for these streets is Rs 9,900 per sq.ft, placing Vasudeva Nagar Extn's 2024 figure above this median.

• Vasudeva Nagar: Rs 11,000 per sq.ft (2024)
• Valmeegi Street: Rs 7,150 per sq.ft (2024)
• Valmeegi Nagar 4th Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 3rd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 2nd Sea Ward: Rs 12,650 per sq.ft (2024)
• Valmeegi Nagar 1st Sea Ward: Rs 12,650 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudeva Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total cost to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudeva Nagar Extn?

The Sub Registrar Office that covers Vasudeva Nagar Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must ensure that the sale price is in line with or exceeds the guideline value to avoid discrepancies during registration.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is legally compliant and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Vasudeva Nagar Extn?

The current guideline value of Vasudeva Nagar Extn is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 785 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting a total increase of 1301% over the years.

What is the land classification of Vasudeva Nagar Extn?

The land classification for Vasudeva Nagar Extn is Residential Special Type - II.

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

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Where is the Sub Registrar Office for Vasudeva Nagar Extn located?

The Sub Registrar Office for Vasudeva Nagar Extn is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.