Guideline Value for Vasudevan Street

Vasudevan Street guideline value

The current guideline value of Vasudevan Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village, under the Adayar SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Vasudevan Street has changed

The guideline value for Vasudevan Street has seen several revisions over the years. In the 2007 revision, the value was Rs 2,200 per sq.ft. This increased to Rs 3,000 per sq.ft in 2012, but then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

The changes between the revisions show a notable fluctuation. From 2007 to 2012, the value increased by 36%, but then saw a decrease of 33% from 2012 to 2017. After that, the value surged by 49% from 2017 to 2023, and has increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 50%.

Guideline values in Kottivakkam

Kottivakkam village has a total of 284 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Vasudevan Street's 2024 figure below that median.

• Vargiswar Avenue: Rs 3,900 per sq.ft (2024)
• Vembulilamman Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Vembulilamman Koil Street: Rs 2,200 per sq.ft (2024)
• Vallalal Street: Rs 3,900 per sq.ft (2024)
• Vaidegi Street: Rs 3,900 per sq.ft (2024)
• Venkatesapuram 1st Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasudevan Street?

The Sub Registrar Office that covers Vasudevan Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kottivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects the market standards set by the government.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vasudevan Street?

The current guideline value of Vasudevan Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with several fluctuations in between.

What is the median guideline value in Kottivakkam?

The median guideline value in Kottivakkam is Rs 3,900 per sq.ft, which is higher than the current value of Vasudevan Street.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.