Guideline Value for Vasuki Nagar

Vasuki Nagar guideline value

The current guideline value of Vasuki Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Sriperumbudur A village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Vasuki Nagar has changed

The guideline value for Vasuki Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, with no change from 2023 to 2024.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value is Rs 700 per sq.ft, making Vasuki Nagar's 2024 figure equal to this median.

• Vasantham Colony: Rs 700 per sq.ft (2024)
• Vanniyar Street: Rs 1,200 per sq.ft (2024)
• Veerasamy Pillai Street: Rs 700 per sq.ft (2024)
• Velankanni Nagar: Rs 700 per sq.ft (2024)
• Vada Pushkarani Street: Rs 700 per sq.ft (2024)
• VGP Chakra Town: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 further calculations.

Which Sub Registrar Office covers Vasuki Nagar?

The Sub Registrar Office that covers Vasuki Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction reflects a fair value for taxation purposes. This ensures that both buyers and sellers are aware of the financial obligations associated with the property transaction.

Frequently asked questions

What is the current guideline value of Vasuki Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2023 to 2024. It increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, marking a 49% increase over that period.

What is the land classification of Vasuki Nagar?

Vasuki Nagar is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

What are the other streets in Sriperumbudur A with the same guideline value?

Other streets in Sriperumbudur A with the same guideline value of Rs 700 per sq.ft include Vasantham Colony, Veerasamy Pillai Street, Velankanni Nagar, Vada Pushkarani Street, and VGP Chakra Town.

Where is the Sub Registrar Office for Vasuki Nagar located?

The Sub Registrar Office for Vasuki Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.