Guideline Value for VYASAR NAGAR 2ND STREET

Vyasar Nagar 2nd Street guideline value

The current guideline value of Vyasar Nagar 2nd 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 is classified as Residential Class II Type - I.

How the guideline value of Vyasar Nagar 2nd Street has changed

The guideline value of Vyasar Nagar 2nd Street has seen several revisions over the years. In 2003, the guideline value was Rs 461 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant rise of 74%. By 2012, the value was Rs 4,000 per sq.ft, reflecting a substantial increase of 400%. However, this value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,300 per sq.ft in 2024, representing an increase of 8%.

Overall, from 2003 to 2024, the guideline value has increased by 833%. The register does not have a figure for the year 2002 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. Vyasar Nagar 2nd Street's 2024 guideline value is above this median.

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

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, bringing the total fees to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vyasar Nagar 2nd Street?

The Sub Registrar Office that covers Vyasar Nagar 2nd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for additional information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue through stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vyasar Nagar 2nd Street?

The current guideline value of Vyasar Nagar 2nd Street 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 from Rs 461 per sq.ft in 2003 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 833% over the years.

What is the land classification of Vyasar Nagar 2nd Street?

Vyasar Nagar 2nd Street is classified as Residential Class II Type - I.

Where can I find the registration office for Vyasar Nagar 2nd Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, covers Vyasar Nagar 2nd Street.

How is stamp duty calculated for properties in Vyasar Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 4,300 per sq.ft, the stamp duty would be 7% of the total guideline value.