Guideline Value for Vasuki Nagar 4th Street

Vasuki Nagar 4th Street guideline value

The current guideline value of Vasuki Nagar 4th Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vasuki Nagar 4th Street has changed

The guideline value for Vasuki Nagar 4th Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in 2017, marking a reduction of 33%. However, the most recent revision in 2024 has increased the guideline value to Rs 2,700 per sq.ft, which represents a significant increase of 61% from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is the same as the 2024 figure for Vasuki Nagar 4th Street.

• Vasuki Nagar 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 5th Cross Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 3rd Main Road: Rs 2,700 per sq.ft (2024)
• Vasuki Nagar 7th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki Nagar 4th Street

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 is charged at 7%, amounting to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total fees would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasuki Nagar 4th Street?

The Madhavaram Sub Registrar Office covers Vasuki Nagar 4th Street. The office is 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 when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vasuki Nagar 4th Street?

The current guideline value of Vasuki Nagar 4th 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 has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. Overall, this represents an 8% increase from 2012 to 2024.

What is the land classification of Vasuki Nagar 4th Street?

Vasuki Nagar 4th Street is classified as Residential Class I Type - I.

Where can I find the registration office for Vasuki Nagar 4th Street?

The registration office for Vasuki Nagar 4th Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.