Guideline Value for Vasugi Nagar

Vasugi Nagar guideline value

The current guideline value of Vasugi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Vasugi Nagar has changed

The guideline value for Vasugi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

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 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 guideline value for Vasugi Nagar above the median.

• Vasavi Nagar: Rs 2,750 per sq.ft (2024)
• Vedandam Colony 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Vedandam Colony Border Street: Rs 2,750 per sq.ft (2024)
• Vedandam Colony Ist Street: Rs 2,750 per sq.ft (2024)
• Vedandam Colony Main Road: Rs 2,750 per sq.ft (2024)
• Vedandam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vasugi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Vasugi Nagar?

The Sub Registrar Office covering Vasugi Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it affects the overall transaction costs. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly impact their total expenditure.

Frequently asked questions

What is the current guideline value for Vasugi Nagar?

The current guideline value for Vasugi Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase overall from 2012 to 2024.

What are the stamp duty rates for properties in Vasugi Nagar?

The stamp duty rate for properties in Vasugi Nagar is 7%, which is applied to the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Vasugi Nagar is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the minimum registration value, which in turn impacts the stamp duty and registration fees that buyers must pay.