Guideline Value for Vasu Street

Vasu Street guideline value

The current guideline value of Vasu Street in Pozhichalur village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pammal SRO and is classified as Residential Class II Type - I.

How the guideline value of Vasu Street has changed

The guideline value for Vasu Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 further increased the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for Vasu Street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur village, there are a total of 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Vasu Street's 2024 figure below this median.

• Vedachalam Street: Rs 1,100 per sq.ft (2024)
• VeeraPandiya Kattabomman Street: Rs 1,320 per sq.ft (2024)
• Vanjinathan Street: Rs 1,100 per sq.ft (2024)
• Vanaja Nagar Kuttai Medu: Rs 1,100 per sq.ft (2024)
• Vanaja Nagar: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, leading to a combined total of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasu Street?

The Sub Registrar Office that covers Vasu Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Pozhichalur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during the registration process.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasu Street?

The current guideline value of Vasu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vasu Street has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What is the land classification for Vasu Street?

Vasu Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, within the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pozhichalur?

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