Guideline Value for Vasuki Nagar

Vasuki Nagar guideline value

The current guideline value of Vasuki Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Valarpuram village under the Sriperumpudur SRO, classified as Residential Class II Type - I.

How the guideline value of Vasuki Nagar has changed

Over the years, the guideline value of Vasuki Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 300 per sq.ft in both the 2012 and 2023 revisions. The 2017 revision recorded a value of Rs 201 per sq.ft, marking a 49% increase from the previous figure. However, the most recent revision in 2024 maintained the guideline value at Rs 300 per sq.ft, showing no change from 2023.

Notably, the register has no figures for the years 2002 and 2003 for this street. From the 2007 revision to the 2024 revision, the overall increase in guideline value is 200%.

Guideline values in Valarpuram

In Valarpuram village, there are 91 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which aligns with the guideline value of Vasuki Nagar.

• Varatharajan Nagar: Rs 400 per sq.ft (2024)
• Venkatachalapathi Nagar: Rs 400 per sq.ft (2024)
• Valar Nagar: Rs 200 per sq.ft (2024)
• Vaishnavi Farms: Rs 200 per sq.ft (2024)
• Vaikuntham Nagar: Rs 200 per sq.ft (2024)
• V.K.S Avenue: Rs 469 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total costs to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 additional information.

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

The guideline value plays a crucial role in property transactions within Valarpuram. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. The value ensures that the government receives the appropriate revenue from property transactions.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the necessary fees. This value helps to standardize property transactions and provides transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Vasuki Nagar?

The current guideline value of Vasuki Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining it at Rs 300 per sq.ft. The value increased from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012 and 2023, with a notable increase of 49% from 2017 to 2023.

What is the stamp duty rate for properties in Vasuki Nagar?

The stamp duty rate for properties in Vasuki Nagar is 7% of the guideline value or sale price, whichever is higher. This applies to all transactions within the area.

Where can I find the Sub Registrar Office for Vasuki Nagar?

The Sub Registrar Office for Vasuki Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all registration activities for the area.

What is the land classification of Vasuki Nagar?

Vasuki Nagar is classified as Residential Class II Type - I, indicating its suitability for residential development and usage.