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Guideline Value

Corporate

Guideline Value for Vasuki Nagar 1st Main Road

₹2700/sq.ft.

The guideline value for Vasuki Nagar 1st Main Road in Kodungaiyur village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodungaiyur

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹2500 /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 Vasuki Nagar 1st Main Road

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Vasuki Nagar 1st Main Road guideline value

The current guideline value of Vasuki Nagar 1st Main Road is Rs 2,700 per sq.ft, effective from 1 July 2024. This road is located in Kodungaiyur village, under the Madhavaram SRO, and falls under the Residential Class I Type - I land classification.

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

The guideline value for Vasuki Nagar 1st Main Road has undergone several revisions over the years. The oldest available revision is from 2012, where the guideline value was Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, reflecting an increase of 8% from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. The current guideline value of Rs 2,700 per sq.ft aligns with the median value of Rs 2,700 per sq.ft for 1318 streets in Kodungaiyur under the Madhavaram SRO.

Guideline values in Kodungaiyur

In Kodungaiyur, the guideline values range from Rs 1,900 to Rs 4,000 per sq.ft, with the median also at Rs 2,700 per sq.ft. Vasuki Nagar 1st Main Road's 2024 figure matches this median, indicating it is in line with other properties in the area.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers Vasuki 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 Kodungaiyur

The guideline value plays a crucial role during property transactions in Kodungaiyur, as it is used to determine the stamp duty and registration fees payable at the time of registration. Buyers and sellers should be aware that the guideline value is the minimum value considered for these calculations, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value can influence the sale price, as it serves as a benchmark for buyers and sellers. It is essential for all parties involved to understand the guideline value to ensure compliance with legal and financial obligations during the transfer of property ownership.

Frequently asked questions

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

The current guideline value of Vasuki Nagar 1st Main Road is Rs 2,700 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 2,700 per sq.ft in 2024, reflecting an increase of 8%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

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

Vasuki Nagar 1st Main Road is classified under Residential Class I Type - I. This classification indicates the type of development and usage permitted in the area.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,43,000.

Where is the Sub Registrar Office located for this area?

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