Guideline Value for VASUGI NAGAR 1ST STREET

Vasugi Nagar 1st Street guideline value

The current guideline value of Vasugi Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village and falls under the Purasaivakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vasugi Nagar 1st Street has changed

Over the years, the guideline value of Vasugi Nagar 1st Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,340 per sq.ft. In the following revisions, the value increased to Rs 2,000 per sq.ft in 2023 and further to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur, there are 1114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Vasugi Nagar 1st Street is below this median.

• Vasugi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges Rs 1,98,000. It is important to note that 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 Vasugi Nagar 1st Street?

The Sub Registrar Office that covers Vasugi Nagar 1st 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 Perambur

The guideline value is a crucial factor in property transactions in Perambur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Vasugi Nagar 1st Street?

The current guideline value of Vasugi Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,340 per sq.ft in 2017 and Rs 2,000 per sq.ft in 2012, showing significant fluctuations over the years.

Where can I find the registration office for Vasugi Nagar 1st Street?

The Purasaivakkam Sub Registrar Office is the registration office for Vasugi Nagar 1st Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% on the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total charges would amount to Rs 1,98,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties, impacting the stamp duty and registration fees. It is crucial for buyers and sellers to be aware of the current guideline value to ensure a smooth transaction process.