Guideline Value for VASUDEVAN STREET (DR. VASUDEVAN STREET)

Vasudevan Street (Dr. Vasudevan Street) guideline value

The current guideline value of Vasudevan Street (Dr. Vasudevan Street) is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Vasudevan Street (Dr. Vasudevan Street) has changed

The guideline value has seen several revisions over the years. In the 2007 revision, the value was Rs 2,800 per sq.ft. This increased significantly to Rs 9,000 per sq.ft in 2012, marking a 221% increase. However, in the 2017 revision, it dropped to Rs 6,030 per sq.ft, which was a decrease of 33%. The value then rose to Rs 9,000 per sq.ft in the 2023 revision, and finally, it reached Rs 9,900 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 254%. The register has no figures for the years 2002 and 2003 for this street.

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. The median guideline value is Rs 5,500 per sq.ft, placing Vasudevan Street's 2024 figure above this median.

• Vasudeva Pillai Street: Rs 6,000 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 Vasudevan Street (Dr. Vasudevan Street)

For a 1,000 sq.ft plot at the current rate of Rs 9,900 per sq.ft, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudevan Street (Dr. Vasudevan Street)?

The Sub Registrar Office that covers Vasudevan Street (Dr. Vasudevan 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 reference point when buying or selling property in Purasaivakkam. It helps determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used by the registration department to assess the value of the property being sold.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which is essential for legal and taxation purposes. It is advisable for buyers to check the current guideline value before making any property transactions to understand their financial obligations.

Frequently asked questions

What is the current guideline value of Vasudevan Street?

The current guideline value of Vasudevan Street (Dr. Vasudevan Street) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,800 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 254% over the years.

What are the stamp duty and registration fees for properties on Vasudevan Street?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which Sub Registrar Office covers this street?

The Purasaivakkam Sub Registrar Office covers Vasudevan Street (Dr. Vasudevan Street), located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Vasudevan Street?

The land classification for Vasudevan Street (Dr. Vasudevan Street) is Residential Special Type - IV.