Guideline Value for VASUGI NAGAR 5TH STREET

Vasugi Nagar 5th Street guideline value

The current guideline value of Vasugi Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vasugi Nagar 5th Street has changed

The guideline value for Vasugi Nagar 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the guideline value to Rs 2,000 per sq.ft, and the latest 2024 revision has raised it to Rs 2,200 per sq.ft. The changes between these revisions include a 10% increase from 2023 to 2024 and a significant 49% increase from 2017 to 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Vasugi Nagar 5th Street's 2024 figure below that median.

• Vasugi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasugi Nagar 5th Street?

The Sub Registrar Office that covers Vasugi Nagar 5th 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 plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When a buyer or seller engages in a property transaction, the registration office will refer to the guideline value to calculate the necessary fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline values.

Frequently asked questions

What is the current guideline value for Vasugi Nagar 5th Street?

The current guideline value for Vasugi Nagar 5th 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 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Vasugi Nagar 5th Street?

Vasugi Nagar 5th Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Vasugi Nagar 5th Street?

The Sub Registrar Office for Vasugi Nagar 5th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property in Vasugi Nagar 5th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.