Guideline Value for Vaseegar Avenue

Vaseegar Avenue guideline value

The current guideline value of Vaseegar Avenue in Kanchivakkam village is Rs 600 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Vaseegar Avenue has changed

Looking at the revisions, the guideline value for Vaseegar Avenue was Rs 600 per sq.ft in both the 2023 and 2024 revisions. In the 2017 revision, the value was Rs 402 per sq.ft, which shows a significant increase of 49% from 2017 to 2023. In the 2012 revision, the value was Rs 600 per sq.ft, indicating a decrease of 33% to Rs 402 per sq.ft by 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 600 per sq.ft.

The register does not have figures for the years 2002, 2003, and 2007 for this street. However, the 2012 revision shows a value of Rs 600 per sq.ft, which was consistent with the value in 2024.

Guideline values in Kanchivakkam

In Kanchivakkam, there are 23 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 600 per sq.ft, with a median of Rs 500 per sq.ft. Vaseegar Avenue's 2024 figure is above this median.

• Valarmathi Garden Part-I to IV: Rs 500 per sq.ft (2024)
• Sumangali Nagar: Rs 500 per sq.ft (2024)
• Sterling Garden-I & II: Rs 400 per sq.ft (2024)
• Sri Sai Vignesh Nagar: Rs 600 per sq.ft (2024)
• Sri Balaji Nagar: Rs 500 per sq.ft (2024)
• Senthil Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vaseegar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 more details.

Which Sub Registrar Office covers Vaseegar Avenue?

The Sub Registrar Office that covers Vaseegar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kanchivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vaseegar Avenue?

The current guideline value of Vaseegar Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vaseegar Avenue has seen various changes, with the most recent revisions in 2023 and 2024 both being Rs 600 per sq.ft. The value increased from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What is the land classification for Vaseegar Avenue?

Vaseegar Avenue is classified as Residential Special Type - I, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for property in Vaseegar Avenue?

For a 1,000 sq.ft plot valued at Rs 600 per sq.ft, the total guideline value is Rs 6,00,000. The stamp duty would be Rs 42,000, and the registration fee would be Rs 12,000, totaling Rs 54,000.

Which Sub Registrar Office covers Kanchivakkam?

The Gooduvancheri Sub Registrar Office covers Kanchivakkam, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.