Guideline Value for Vasinavi Nagar

Vasinavi Nagar guideline value

The current guideline value of Vasinavi Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Kilay village under the Sriperumpudur SRO, classified as Residential Special Type - I.

How the guideline value of Vasinavi Nagar has changed

The guideline value for Vasinavi Nagar has seen several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 50 per sq.ft. This value rose significantly to Rs 400 per sq.ft in the 2012 revision, marking an increase of 700%. However, it dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 400 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 700%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 300 per sq.ft. Vasinavi Nagar's 2024 guideline value is above this median.

• Yasin Nagar: Rs 200 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 per sq.ft (2024)
• Teja's The Retreat: Rs 300 per sq.ft (2024)
• Sri Vaari Nagar: Rs 400 per sq.ft (2024)
• Sri Mahaganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasinavi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vasinavi Nagar?

The Sub Registrar Office that covers Vasinavi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values 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 for Vasinavi Nagar?

The current guideline value for Vasinavi Nagar is Rs 400 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 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2024, with various increases and decreases in between. Notably, it has remained at Rs 400 per sq.ft since 2012.

What are the other streets in Kilay with their guideline values?

Other streets in Kilay include Yasin Nagar at Rs 200 per sq.ft, Theruveedhiyamman Koil Street at Rs 150 per sq.ft, Teja's The Retreat at Rs 300 per sq.ft, and several others at Rs 400 per sq.ft.

How is stamp duty calculated in Vasinavi Nagar?

Stamp duty in Vasinavi Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.

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

The Sub Registrar Office for Vasinavi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.