Guideline Value for Vasu salai

Vasu salai guideline value

The current guideline value of Vasu salai is Rs 13,400 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, classified as Mixed Type - I land.

How the guideline value of Vasu salai has changed

The guideline value for Vasu salai has seen significant changes over the years. In 2002, the guideline value was Rs 1,160 per sq.ft, which rose to Rs 1,279 per sq.ft in 2003. Following this, there was a substantial increase to Rs 3,000 per sq.ft in 2007, and then it jumped dramatically to Rs 12,300 per sq.ft in 2012. However, this figure saw a decline to Rs 8,241 per sq.ft in 2017. The guideline value then increased again to Rs 12,300 per sq.ft in 2023, before reaching the current value of Rs 13,400 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2002 to 2024, the overall increase was +1055%. The jump from 2017 to 2023 was +49%, while the change from 2012 to 2017 was a decrease of -33%. The increase from 2007 to 2012 was +310%, and from 2003 to 2007, it was +135%. The guideline value rose by +10% from 2002 to 2003. There are no figures available for any other years for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that have a guideline value for 2024, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value is Rs 7,100 per sq.ft, making the guideline value of Vasu salai above this median.

• Veeerasamy pillai street: Rs 7,100 per sq.ft (2024)
• Veerabadra Achari Street: Rs 7,100 per sq.ft (2024)
• Veeraraghavan Street: Rs 3,900 per sq.ft (2024)
• Varadarajaulu Naidu garden: Rs 7,100 per sq.ft (2024)
• Varadarajalu Street: Rs 7,100 per sq.ft (2024)
• Vannanthurai: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasu salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,400 per sq.ft, the total guideline value would be Rs 1,34,00,000. The stamp duty at 7% would be Rs 9,38,000, and the registration fee at 2% would be Rs 2,68,000, bringing the total to Rs 12,06,000. 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 further calculations.

Which Sub Registrar Office covers Vasu salai?

The Sub Registrar Office covering Vasu salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the actual value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vasu salai?

The current guideline value of Vasu salai is Rs 13,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,160 per sq.ft in 2002 to Rs 13,400 per sq.ft in 2024, marking an overall increase of +1055% over the years.

What is the land classification of Vasu salai?

Vasu salai is classified as Mixed Type - I land, which is important for understanding its usage and potential development.

What are the stamp duty rates for property in Vasu salai?

The stamp duty for property in Vasu salai is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Vasu salai?

The Sub Registrar Office for Vasu salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.