Guideline Value for VASUDEVA NAGAR

Vasudeva Nagar guideline value

The current guideline value of Vasudeva Nagar 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 has changed

The guideline value for Vasudeva Nagar has seen several revisions over the years. In 2002, the value was Rs 1,183 per sq.ft. This increased to Rs 1,309 per sq.ft in 2003, marking a rise of 11%. The value continued to rise significantly, reaching Rs 1,800 per sq.ft in 2007, which was an increase of 38%. However, it then saw a substantial jump to Rs 10,000 per sq.ft in 2012, reflecting a 456% increase. The value then dropped to Rs 6,700 per sq.ft in 2017, a decrease of 33%. In 2023, the guideline value rose again to Rs 10,000 per sq.ft, and most recently, it has increased to Rs 11,000 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 830%. Notably, there are no figures available for the revisions in the years not mentioned for this street.

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 is Rs 9,900 per sq.ft, placing Vasudeva Nagar's 2024 figure above this median.

• Vasudeva Nagar Extn: 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

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, while the registration fee at 2% would be Rs 2,20,000, bringing the total to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudeva Nagar?

The Sub Registrar Office that covers Vasudeva Nagar 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 of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are recorded accurately and transparently.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vasudeva Nagar?

The current guideline value of Vasudeva Nagar 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 from Rs 1,183 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 830% over this period.

What is the registration office for Vasudeva Nagar?

The registration office for Vasudeva Nagar 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.

How is stamp duty calculated in Thiruvanmiyur?

Stamp duty in Thiruvanmiyur is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.