Guideline Value for VASUGI NAGAR 6TH STREET

Vasugi Nagar 6th Street guideline value

The current guideline value of Vasugi Nagar 6th 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 6th Street has changed

The guideline value for Vasugi Nagar 6th Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, marking a change of +10%. Looking back further, the value was Rs 1,340 per sq.ft in 2017, which means there was a significant increase of +49% from 2017 to 2023. Prior to that, in 2012, the value was Rs 2,000 per sq.ft, indicating a decrease of -33% from 2012 to 2017. Overall, comparing the figures from 2012 to 2024, there has been a +10% change.

The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur, there are a total of 1114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Vasugi Nagar 6th Street's 2024 figure below that median.

• Vasugi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 3rd Street: 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 6th 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, bringing the total cost for these fees to Rs 1,98,000. 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 Vasugi Nagar 6th Street?

The Sub Registrar Office that covers Vasugi Nagar 6th 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 during the registration process of property transactions in Perambur. It serves as a base for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value of the property being transacted.

When buying or selling property, it is essential to understand that the guideline value may differ from the actual sale price. The registration fees and stamp duty will be calculated based on whichever amount is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vasugi Nagar 6th Street?

The current guideline value of Vasugi Nagar 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of +10%. The most significant change occurred between 2017 and 2023, where the value rose by +49%.

What are the stamp duty and registration fees for property transactions?

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

Which office handles the registration for Vasugi Nagar 6th Street?

The Purasaivakkam Sub Registrar Office handles registrations for Vasugi Nagar 6th Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Vasugi Nagar 6th Street?

Vasugi Nagar 6th Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.