Guideline Value for Vasudeva Nagar

Vasudeva Nagar guideline value

The current guideline value of Vasudeva Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Vasudeva Nagar has changed

The guideline value for Vasudeva Nagar has experienced several revisions over the years. The earliest recorded value in the register is from 2012, which was Rs 3,300 per sq.ft. This figure was then revised to Rs 2,211 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 3,300 per sq.ft in 2023, and then to Rs 3,630 per sq.ft in 2024, reflecting a 10% rise from the previous year. The 2002, 2003, and 2007 revisions do not have figures listed for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The increase from 2017 to 2023 was 49%, which indicates a substantial rise in the value over this period. The most recent revision in 2024 shows a 10% increase from the 2023 figure, bringing the current guideline value to Rs 3,630 per sq.ft.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Vasudeva Nagar's 2024 figure above this median.

• Varadharaja Perumal Nagar: Rs 1,210 per sq.ft (2024)
• Veeraraghava Nagar: Rs 3,630 per sq.ft (2024)
• Vallalar Street: Rs 1,210 per sq.ft (2024)
• Vaigaraiammal Koil Street: Rs 1,210 per sq.ft (2024)
• Venkatathri Nagar: Rs 1,760 per sq.ft (2024)
• Venkateswara Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudeva Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600. This brings the total cost for stamp duty and registration fees to Rs 3,26,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudeva Nagar?

The Sub Registrar Office that covers Vasudeva Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mudichur. It serves as the benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements during the transaction.

When a property is sold, the guideline value is used to assess the minimum value for which the property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Vasudeva Nagar?

The current guideline value of Vasudeva Nagar is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification of Vasudeva Nagar?

Vasudeva Nagar is classified as Commercial Class I Type - I.

Where can I find the registration office for Vasudeva Nagar?

The registration office for Vasudeva Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Vasudeva Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 36,30,000 would incur a stamp duty of Rs 2,54,100 at a rate of 7%.