Guideline Value for Vasudevar Nagar

Vasudevar Nagar guideline value

The current guideline value of Vasudevar Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Vasudevar Nagar has changed

The guideline value for Vasudevar Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Vasudevar Nagar's 2024 figure above the median.

• Vasudeva Nagar, Ram Nagar: Rs 3,850 per sq.ft (2024)
• Veeraghavan Street: Rs 2,200 per sq.ft (2024)
• Veeramani Street: Rs 3,850 per sq.ft (2024)
• Veeramani Street/Periyar Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Veerasamy Street: Rs 2,200 per sq.ft (2024)
• Vanjinathan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vasudevar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasudevar Nagar?

The Sub Registrar Office that covers Vasudevar Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor in the registration process when buying or selling property in Madipakkam-1. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a value recognized by the government.

Frequently asked questions

What is the current guideline value of Vasudevar Nagar?

The current guideline value of Vasudevar Nagar is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current value of Rs 3,850 per sq.ft in 2024. The value rose from Rs 2,345 per sq.ft in 2017 to Rs 3,500 per sq.ft in 2023, and then to Rs 3,850 per sq.ft in 2024.

What is the land classification for Vasudevar Nagar?

Vasudevar Nagar is classified as Residential Class I Type - I. This classification can influence the guideline value and property usage in the area.

What are the stamp duty and registration fees for property in Vasudevar Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. For a property valued at Rs 38,50,000, the total fees would amount to Rs 3,46,500.

Where can I find the Sub Registrar Office for Vasudevar Nagar?

The Velacheri Sub Registrar Office covers Vasudevar Nagar and is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.