Guideline Value for VASUKI NAGAR

Vasuki Nagar guideline value

The current guideline value of Vasuki Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This locality is situated in Athipattu village under the Thiruvottiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Vasuki Nagar has changed

Over the years, the guideline value of Vasuki Nagar has seen several revisions. The 2017 revision set the value at Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in 2023. The latest revision in 2024 has raised the guideline value to Rs 330 per sq.ft, reflecting a change of 10% from the previous year. The overall change from 2017 to 2024 is an increase of 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The 2023 to 2024 revision shows a significant increase of 10%, while the increase from 2017 to 2023 was 49%.

Guideline values in Athipattu

Athipattu village comprises 108 streets under the Thiruvottiyur SRO, with the 2024 guideline values ranging from Rs 220 to Rs 462 per sq.ft. The median guideline value for these streets is Rs 330 per sq.ft, which is the same as the current value for Vasuki Nagar.

• Vasavi Nagar: Rs 330 per sq.ft (2024)
• Veera Pandiya Kattapomman Nagar: Rs 330 per sq.ft (2024)
• Vela Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Vaigunda Perumal Nagar Ext: Rs 330 per sq.ft (2024)
• Vaigunda Perumal Nagar: Rs 330 per sq.ft (2024)
• Venkatesa Perumal Nagar: Rs 330 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 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty, charged at 7%, would be Rs 23,100, while the registration fee at 2% would be Rs 6,600. Together, the total cost for stamp duty and registration fee would be Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasuki Nagar?

The Sub Registrar Office that covers Vasuki Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process for property transactions in Athipattu. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees, which are essential components of the transaction process. Buyers should be aware that these costs can significantly impact the overall expenses involved in purchasing property.

Frequently asked questions

What is the current guideline value of Vasuki Nagar?

The current guideline value of Vasuki Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 201 per sq.ft in 2017 to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in 2024. This reflects a total increase of 64% from 2017 to 2024.

What are the guideline values for other streets in Athipattu?

Other streets in Athipattu have guideline values that range from Rs 220 to Rs 462 per sq.ft, with the median value being Rs 330 per sq.ft, which is the same as Vasuki Nagar's current value.

What is the stamp duty rate in Vasuki Nagar?

The stamp duty rate for property transactions in Vasuki Nagar is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vasuki Nagar?

The Sub Registrar Office for Vasuki Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.