Guideline Value for Vasugi Nagar

Vasugi Nagar guideline value

The current guideline value of Vasugi Nagar is Rs 275 per sq.ft, effective from 1 July 2024. This area is located in Perungavur village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Vasugi Nagar has changed

The guideline value for Vasugi Nagar has undergone several revisions over the years. Starting from Rs 14 per sq.ft in 2003, it increased significantly to Rs 200 per sq.ft in 2007. The value then rose to Rs 250 per sq.ft in 2012, but saw a decrease to Rs 167 per sq.ft in 2017. Following this, the value increased to Rs 250 per sq.ft in 2023, and finally reached Rs 275 per sq.ft in the 2024 revision.

In terms of percentage changes, the guideline value increased by 1329% from 2003 to 2007, decreased by 33% from 2012 to 2017, and increased by 50% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 1864%. The register has no figure for this street in 2002.

Guideline values in Perungavur

In Perungavur, there are 79 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 220 to Rs 1,500 per sq.ft. The median value is Rs 275 per sq.ft, placing Vasugi Nagar's 2024 figure at this median level.

• Vekkali Amman Nagar: Rs 220 per sq.ft (2024)
• Velan Nagar: Rs 220 per sq.ft (2024)
• Velan Nagar Annex: Rs 220 per sq.ft (2024)
• Velan Nagar Annex I: Rs 220 per sq.ft (2024)
• Velavan Nagar: Rs 385 per sq.ft (2024)
• Vaideki Nagar: Rs 220 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 275 per sq.ft, the total guideline value amounts to Rs 2,75,000. The stamp duty at 7% would be Rs 19,250, and the registration fee at 2% would be Rs 5,500, bringing the total charges to Rs 24,750. Duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasugi Nagar?

The Sub Registrar Office covering Vasugi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Perungavur, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

When buying or selling property, it is essential to be aware of the current guideline value to ensure compliance with the registration requirements. This helps in understanding the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Vasugi Nagar?

The current guideline value of Vasugi Nagar is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 14 per sq.ft in 2003 to Rs 275 per sq.ft in 2024, with various increases and decreases in between.

What are the other streets in Perungavur and their guideline values?

Other streets in Perungavur include Vekkali Amman Nagar, Velan Nagar, Velan Nagar Annex, Velan Nagar Annex I, Velavan Nagar, and Vaideki Nagar, with values ranging from Rs 220 to Rs 385 per sq.ft in 2024.

What fees are associated with property transactions in Vasugi Nagar?

Fees include stamp duty at 7% of the guideline value and a registration fee at 2%. For example, for a 1,000 sq.ft plot, these fees total Rs 24,750.

Where is the Sub Registrar Office for Vasugi Nagar located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.