Guideline Value for VASUGI STREET

Vasugi Street guideline value

The current guideline value of Vasugi Street in Thandurai village, under the Avadi SRO, is Rs 988 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Vasugi Street has changed

Starting from the 2012 revision, the guideline value for Vasugi Street was Rs 900 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 603 per sq.ft, marking a -33% change. In the subsequent 2023 revision, the value increased significantly to Rs 900 per sq.ft, followed by a further increase to Rs 988 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Thandurai

In Thandurai village, there are 331 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,640 per sq.ft. The median value for these streets is Rs 988 per sq.ft, which is equal to the current guideline value of Vasugi Street.

• Velankanni Street: Rs 988 per sq.ft (2024)
• Vanavil Nagar: Rs 988 per sq.ft (2024)
• Valluvar Street: Rs 988 per sq.ft (2024)
• Vallalar Street: Rs 988 per sq.ft (2024)
• Vallalar Nagar & Other Streets: Rs 1,300 per sq.ft (2024)
• Vallalar Nagar Main Road Cross St: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 988 per sq.ft, the total guideline value would be Rs 9,88,000. The stamp duty at 7% would be Rs 69,160, and the registration fee at 2% would be Rs 19,760, resulting in a total of Rs 88,920. 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 precise calculations based on your property details.

Which Sub Registrar Office covers Vasugi Street?

The Sub Registrar Office that covers Vasugi Street is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Thandurai. It is used to determine the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Vasugi Street?

The current guideline value of Vasugi Street is Rs 988 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 900 per sq.ft in 2012, decreasing to Rs 603 per sq.ft in 2017, then increasing to Rs 900 per sq.ft in 2023, and finally reaching Rs 988 per sq.ft in 2024.

What is the land classification for Vasugi Street?

Vasugi Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Vasugi Street?

For a property valued at Rs 9,88,000, the stamp duty would be Rs 69,160 and the registration fee would be Rs 19,760, totaling Rs 88,920.

Which office handles registrations for Vasugi Street?

The Avadi Sub Registrar Office handles registrations for Vasugi Street, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.