Guideline Value for Vasudevagramani Street

Vasudevagramani Street guideline value

The current guideline value of Vasudevagramani Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Vasudevagramani Street has changed

The guideline value for Vasudevagramani Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 307 per sq.ft. This increased to Rs 394 per sq.ft in 2003, representing a change of +28%. The value then saw a significant rise to Rs 1,333 per sq.ft in 2007, which was an increase of +238%. Following this, the value dropped to Rs 2,000 per sq.ft in 2012, marking a decrease of -33%. The next revision in 2017 recorded a guideline value of Rs 1,340 per sq.ft, which was an increase of +49% from the previous figure. The most recent revision in 2023 set the value at Rs 2,000 per sq.ft, before the current figure of Rs 2,200 per sq.ft was established in 2024, showing a change of +10%.

There are no figures available for the revisions in years other than those listed. The overall change in guideline value from 2002 to 2024 is +617%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Vasudevagramani Street is below this median.

• Vajiravelu Mudali Street: Rs 2,700 per sq.ft (2024)
• Venkatesan Nagar / Venkateswara Nagar: Rs 1,900 per sq.ft (2024)
• Union Public Lane: Rs 2,700 per sq.ft (2024)
• Verkadalaisamy Street: Rs 2,700 per sq.ft (2024)
• Thivuvalluvar Street: Rs 2,700 per sq.ft (2024)
• Thitty Thottam 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevagramani Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost would be Rs 1,98,000. 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasudevagramani Street?

The Sub Registrar Office that covers Vasudevagramani Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that buyers need to pay during the registration process.

When you buy or sell property in Sembiam, it is essential to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. Buyers should ensure that they are prepared to meet the costs associated with the guideline value during the registration of their property.

Frequently asked questions

What is the current guideline value of Vasudevagramani Street?

The current guideline value of Vasudevagramani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 307 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, representing an overall increase of +617% over the years.

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

Other streets in Sembiam include Vajiravelu Mudali Street at Rs 2,700 per sq.ft, Venkatesan Nagar / Venkateswara Nagar at Rs 1,900 per sq.ft, and several others, all listed with their respective values for 2024.

How is the stamp duty calculated for properties in Vasudevagramani Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000.

Where can I find the Sub Registrar Office for Vasudevagramani Street?

The Sub Registrar Office for Vasudevagramani Street is located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find more information about it online.