Guideline Value for Vasudevan Nagar

Vasudevan Nagar guideline value

The current guideline value of Vasudevan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is located in Kovur village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasudevan Nagar has changed

The guideline value for Vasudevan Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 1,200 per sq.ft in 2012. However, this was followed by a decrease to Rs 804 per sq.ft in 2017. The value then increased to Rs 1,200 per sq.ft in 2023, and finally, it has risen to Rs 1,320 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, the guideline value has increased by 428% from the 2007 figure to the current 2024 rate. Notably, the revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vasudevan Nagar's 2024 figure below this median.

• Vatchala Avenue: Rs 1,650 per sq.ft (2024)
• V.B.R. Avenue: Rs 1,650 per sq.ft (2024)
• V.B.R.Avenue Extn: Rs 1,650 per sq.ft (2024)
• Vadavandai Madaveethi Street: Rs 1,650 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,650 per sq.ft (2024)
• Vgn Summerdale Phase II: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudevan Nagar?

The Sub Registrar Office that covers Vasudevan Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kovur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. This ensures that the government receives a fair amount based on the established guideline values for various areas.

When buying or selling property, it is essential to be aware of the current guideline value, as it can impact the overall cost of the transaction. Buyers should ensure that they are informed about the latest rates to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Vasudevan Nagar?

The current guideline value of Vasudevan Nagar is Rs 1,320 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 250 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 428% over the years.

What is the median guideline value for streets in Kovur?

The median guideline value for streets in Kovur is Rs 1,650 per sq.ft, with Vasudevan Nagar's current figure being below this median.

What are the stamp duty and registration fees for properties in Vasudevan Nagar?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800 based on the current guideline value.

Where is the Sub Registrar Office for Vasudevan Nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers Vasudevan Nagar.