Guideline Value for Vasudevapuram Part

Vasudevapuram Part guideline value

The current guideline value for Vasudevapuram Part is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Triplicane village and falls under the Triplicane SRO. The land classification for this street is Mixed Type - II.

How the guideline value of Vasudevapuram Part has changed

The guideline value for Vasudevapuram Part has undergone several revisions over the years. In 2002, the guideline value was Rs 757 per sq.ft, which increased to Rs 910 per sq.ft in 2003. By 2007, it had risen significantly to Rs 1,650 per sq.ft, marking an increase of 81%. The value then saw a substantial jump to Rs 7,000 per sq.ft in 2012, reflecting a 324% increase. However, between 2012 and 2017, the value decreased to Rs 4,690 per sq.ft, a decline of 33%. The value then rose again to Rs 7,000 per sq.ft in 2023, before reaching the current figure of Rs 7,700 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 917%. There are no figures available for the years other than those listed above.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Vasudevapuram Part's 2024 figure above that median.

• Veeranpuram Street (a) Veeran Parachery: Rs 2,700 per sq.ft (2024)
• Veera Perumal Street: Rs 6,600 per sq.ft (2024)
• Veeraraghavan Street (Big Street): Rs 11,000 per sq.ft (2024)
• Vaniyar Street: Rs 6,600 per sq.ft (2024)
• Vaniyar Lane: Rs 6,600 per sq.ft (2024)
• Venkatachala Chetty Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevapuram Part

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total costs together Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasudevapuram Part?

The Sub Registrar Office that covers Vasudevapuram Part is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Vasudevapuram Part?

The current guideline value for Vasudevapuram Part is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 757 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 917% over the years.

What is the stamp duty rate for property transactions in Vasudevapuram Part?

The stamp duty rate for property transactions in Vasudevapuram Part is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vasudevapuram Part?

The Sub Registrar Office for Vasudevapuram Part is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

What are some other streets in Triplicane and their guideline values?

Other streets in Triplicane include Veeranpuram Street (a) Veeran Parachery at Rs 2,700 per sq.ft, Veera Perumal Street at Rs 6,600 per sq.ft, and Veeraraghavan Street (Big Street) at Rs 11,000 per sq.ft, among others.