Guideline Value for VASUKI NAGAR

Vasuki Nagar guideline value

The current guideline value of Vasuki Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This locality is situated in Kovilkuppam village under the Manavalanagar SRO, classified as Residential Class III Type - I.

How the guideline value of Vasuki Nagar has changed

Over the years, the guideline value of Vasuki Nagar has experienced several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision, where it was adjusted to Rs 201 per sq.ft. This was a decrease of 33%. By the 2023 revision, the value returned to Rs 300 per sq.ft, marking a significant increase of 49% from the 2017 figure. The current 2024 revision continues this value at Rs 300 per sq.ft, reflecting no change from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the guideline value has remained consistent from 2012 to 2024, with no overall change during this period.

Guideline values in Kovilkuppam

Kovilkuppam comprises 68 streets under the Manavalanagar SRO, with guideline values ranging from Rs 300 to Rs 800 per sq.ft as of 2024. The median value in this area is Rs 350 per sq.ft, placing Vasuki Nagar's 2024 figure below this median.

• Vasantham Nagar: Rs 350 per sq.ft (2024)
• Vaisali Nagar: Rs 300 per sq.ft (2024)
• Town Phase 2: Rs 300 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Surya Town: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, charged at 7%, would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, resulting in a total of Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasuki Nagar?

The Sub Registrar Office covering Vasuki Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial figure used during the registration of property transactions in Kovilkuppam. It helps determine the stamp duty and registration fees payable, ensuring that these costs are calculated based on a standardized value set by the authorities.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of this value as it can influence the overall transaction costs and the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Vasuki Nagar?

The current guideline value of Vasuki Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and remaining the same in 2024.

What is the median guideline value in Kovilkuppam?

The median guideline value in Kovilkuppam is Rs 350 per sq.ft, with Vasuki Nagar's current value being below this median.

What are the stamp duty and registration fees for property in Vasuki Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 300 per sq.ft, the total fees would amount to Rs 27,000.

Where is the Sub Registrar Office for Vasuki Nagar located?

The Sub Registrar Office for Vasuki Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.