Guideline Value for Vasugi Nagar 3rd Street

Vasugi Nagar 3rd Street guideline value

The current guideline value of Vasugi Nagar 3rd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Vasugi Nagar 3rd Street has changed

The guideline value for Vasugi Nagar 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. However, the value saw a significant increase to Rs 2,000 per sq.ft in 2023, and further rose to the current rate of Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 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 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. Vasugi Nagar 3rd Street's current guideline value is below this median.

• Vasugi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 2nd Main Road: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Vasugi Nagar 1st Main Road: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. The total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasugi Nagar 3rd Street?

The Vasugi Nagar 3rd Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Erukancherry, the guideline value is a crucial factor during the registration process. It serves as the basis for calculating stamp duty and registration fees, ensuring that these charges are aligned with the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly influence the overall costs associated with property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vasugi Nagar 3rd Street?

The current guideline value of Vasugi Nagar 3rd Street 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 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification of Vasugi Nagar 3rd Street?

Vasugi Nagar 3rd Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for a property in Vasugi Nagar 3rd Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers the area of Vasugi Nagar 3rd Street?

The Madhavaram Sub Registrar Office covers Vasugi Nagar 3rd Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.