Guideline Value for VYASAR NAGAR 1ST LANE

Vyasar Nagar 1st Lane guideline value

The current guideline value of Vyasar Nagar 1st Lane is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vyasar Nagar 1st Lane has changed

Since the 2003 revision, the guideline value for Vyasar Nagar 1st Lane has seen significant increases. In 2003, the guideline value was Rs 461 per sq.ft, which rose to Rs 800 per sq.ft in 2007, marking a 74% increase. By 2012, the value remained at Rs 4,000 per sq.ft, and this figure persisted until the 2023 revision. In 2023, the guideline value was revised to Rs 4,000 per sq.ft, before increasing to Rs 4,300 per sq.ft in 2024, reflecting an 8% rise.

Overall, from 2003 to 2024, the guideline value has increased by 833%. Notably, there are no figures available for the revisions in 2017 and 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Vyasar Nagar 1st Lane is above this median.

• Vyasar Nagar: Rs 4,300 per sq.ft (2024)
• Vyasar Nagar 1st Street: Rs 4,300 per sq.ft (2024)
• Vyasar Nagar 2nd Street: Rs 4,300 per sq.ft (2024)
• V.S Krishnan Street: Rs 2,200 per sq.ft (2024)
• V.O.C Street: Rs 2,700 per sq.ft (2024)
• V.O.C Nagar Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vyasar Nagar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, leading to a total of Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vyasar Nagar 1st Lane?

The Sub Registrar Office that covers Vyasar Nagar 1st Lane 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 the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, 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 registration reflects a fair value for the property being transferred.

Frequently asked questions

What is the current guideline value of Vyasar Nagar 1st Lane?

The current guideline value of Vyasar Nagar 1st Lane is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 461 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 833% over the years.

What are the other streets with similar guideline values in Perambur?

Other streets in Perambur with the same guideline value of Rs 4,300 per sq.ft include Vyasar Nagar and Vyasar Nagar 1st Street, as well as Vyasar Nagar 2nd Street.

What is the registration fee for property in Vyasar Nagar 1st Lane?

The registration fee for property in Vyasar Nagar 1st Lane is calculated based on the guideline value, which is currently Rs 4,300 per sq.ft. For a 1,000 sq.ft plot, the registration fee would amount to Rs 86,000.

Where can I find the Sub Registrar Office for Vyasar Nagar 1st Lane?

The Sub Registrar Office for Vyasar Nagar 1st Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.