Guideline Value for VYASAR NAGAR 1ST STREET

Vyasar Nagar 1st Street guideline value

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

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

Since the 2003 revision, the guideline value for Vyasar Nagar 1st Street has seen significant changes. In 2003, the value was Rs 521 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a 54% rise. The 2012 revision maintained the value at Rs 4,000 per sq.ft, and it remained unchanged until the 2023 revision, which also recorded Rs 4,000 per sq.ft. The most recent revision in 2024 saw an increase to Rs 4,300 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 725%. It is important to note that there are no figures available for the revisions in 2002 and 2017 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry 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 Street is above this median.

• Vyasar Nagar 1st Lane: Rs 4,300 per sq.ft (2024)
• Vyasar Nagar 2nd Street: Rs 4,300 per sq.ft (2024)
• Vyasar Nagar: 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 Street

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

Which Sub Registrar Office covers Vyasar Nagar 1st Street?

The Sub Registrar Office that covers Vyasar Nagar 1st 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 when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 521 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 725%.

What are the stamp duty and registration fees for property in Vyasar Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 43,00,000, resulting in a stamp duty of Rs 3,01,000 and a registration fee of Rs 86,000, totaling Rs 3,87,000.

Which Sub Registrar Office is responsible for Vyasar Nagar 1st Street?

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

What is the land classification for Vyasar Nagar 1st Street?

Vyasar Nagar 1st Street falls under the Residential Class II Type - I land classification.