Guideline Value for Vasuki Nagar

Vasuki Nagar guideline value

The current guideline value of Vasuki Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024. This street is located in Madanandapuram village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasuki Nagar has changed

Over the years, the guideline value of Vasuki Nagar has seen significant changes. The earliest recorded figure is from 2007, when it was Rs 400 per sq.ft. This increased dramatically to Rs 3,200 per sq.ft in 2012, marking a rise of 700%. However, the value then decreased to Rs 2,144 per sq.ft in 2017, a decline of 33%. The guideline value continued to rise to Rs 3,200 per sq.ft in 2023, and further increased to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase from the previous year. The overall increase from 2007 to 2024 is 780%.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Madanandapuram

Madanandapuram has a total of 94 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median value is Rs 3,520 per sq.ft, which is the same as the guideline value for Vasuki Nagar.

• Venkatesan Nagar: Rs 3,190 per sq.ft (2024)
• Venkatesan Nagar Annuxe: Rs 3,190 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,190 per sq.ft (2024)
• Vignesh Nagar: Rs 3,190 per sq.ft (2024)
• Thiruvenkatam Nagar: Rs 3,520 per sq.ft (2024)
• V.N.P. Avenue: Rs 3,520 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 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madanandapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation.

During the registration process, buyers and sellers must consider the guideline value as it affects the overall transaction costs. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration of property.

Frequently asked questions

What is the current guideline value of Vasuki Nagar?

The current guideline value of Vasuki Nagar is Rs 3,520 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased by 780%, rising from Rs 400 per sq.ft to Rs 3,520 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value of Vasuki Nagar in 2017 was Rs 2,144 per sq.ft.

What is the land classification for Vasuki Nagar?

Vasuki Nagar is classified as Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.