Guideline Value for VASUDEVA PILLAI STREET

Vasudeva Pillai Street guideline value

The current guideline value of Vasudeva Pillai Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Vasudeva Pillai Street has changed

The guideline value for Vasudeva Pillai Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 206% rise. However, it saw a decrease to Rs 3,685 per sq.ft in 2017, which was a decline of 33%. The value then rose sharply to Rs 5,500 per sq.ft in 2023, an increase of 49%. The most recent revision in 2024 set the guideline value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no recorded figures for this street in the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Rs 6,000 per sq.ft for Vasudeva Pillai Street is above this median.

• Vasudevan Street (Dr. Vasudevan Street): Rs 9,900 per sq.ft (2024)
• Vardarajulu Naidu Street: Rs 5,500 per sq.ft (2024)
• Varadammal Garden Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden Extension: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 3rd Street: Rs 7,100 per sq.ft (2024)
• Varadammal Garden 2nd Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudeva Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value is Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total fees together Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasudeva Pillai Street?

The Sub Registrar Office that covers Vasudeva Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Purasaivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

Frequently asked questions

What is the current guideline value of Vasudeva Pillai Street?

The current guideline value of Vasudeva Pillai Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, with several revisions in between, including a peak of Rs 5,500 per sq.ft in 2012 and 2023.

What is the land classification of Vasudeva Pillai Street?

Vasudeva Pillai Street is classified as Residential Class III Type - III under the guideline value register.

What is the registration office for Vasudeva Pillai Street?

The registration office covering Vasudeva Pillai Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Purasaivakkam?

Stamp duty for properties in Purasaivakkam is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.