Guideline Value for Vasuki Nagar 1st Street

Vasuki Nagar 1st Street guideline value

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

How the guideline value of Vasuki Nagar 1st Street has changed

The guideline value for Vasuki Nagar 1st Street has seen changes over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, while the 2024 revision increased it to Rs 2,700 per sq.ft, marking an increase of 8%. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

From the 2012 to 2024 revision, the guideline value rose from Rs 2,500 to Rs 2,700 per sq.ft. This increase reflects the current valuation trends in the area, aligning with the median guideline value for other streets in Kodungaiyur.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Vasuki Nagar 1st Street matches this median.

• Vasuki Nagar 1st Main Road: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 2nd Main Road: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 3rd Cross Street: Rs 2,700 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees 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.

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

Which Sub Registrar Office covers Vasuki Nagar 1st Street?

The Sub Registrar Office that covers Vasuki Nagar 1st Street is 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 Kodungaiyur

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

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

The current guideline value of Vasuki Nagar 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for properties in Vasuki Nagar 1st Street?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Madhavaram Sub Registrar Office covers Vasuki Nagar 1st Street. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Vasuki Nagar 1st Street?

The land classification for Vasuki Nagar 1st Street is Residential Class I Type - I, indicating its suitability for residential development.