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Guideline Value

Corporate

Guideline Value for Vasugi Nagar 1st Main Road

₹2200/sq.ft.

The guideline value for Vasugi Nagar 1st Main Road in Erukancherry village (Madhavaram SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Erukancherry

Village

Madhavaram

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1800 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vasugi Nagar 1st Main Road

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Vasugi Nagar 1st Main Road guideline value

The current guideline value of Vasugi Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vasugi Nagar 1st Main Road has changed

The guideline value for Vasugi Nagar 1st Main Road has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,800 per sq.ft. This value then decreased to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase, bringing the value up to Rs 2,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 22%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a guideline value for 2024, ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the guideline value of Vasugi Nagar 1st Main Road below the median.

Stamp duty and registration fee for property in Vasugi Nagar 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasugi Nagar 1st Main Road?

The Sub Registrar Office that covers Vasugi Nagar 1st Main Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for completing the legal transfer of ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vasugi Nagar 1st Main Road?

The current guideline value of Vasugi Nagar 1st Main Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with several revisions in between. Notably, there was a significant increase of 49% from 2017 to 2023.

What is the land classification for Vasugi Nagar 1st Main Road?

The land classification for Vasugi Nagar 1st Main Road is Residential Class IV Type - I.

What are the registration fees for property in this area?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for properties in this area?

The Madhavaram Sub Registrar Office handles registrations for properties in Vasugi Nagar 1st Main Road, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.