Guideline Value for Vasuki Street Ext Balaji Nagar Annex

Vasuki Street Ext Balaji Nagar Annex guideline value

The current guideline value of Vasuki Street Ext Balaji Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Vasuki Street Ext Balaji Nagar Annex has changed

The guideline value for Vasuki Street Ext Balaji Nagar Annex has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. In 2023, the value rose to Rs 1,500 per sq.ft again, and the most recent revision in 2024 increased it to Rs 1,650 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Vasuki Street Ext Balaji Nagar Annex is below this median.

• Vasuki Street: Rs 1,650 per sq.ft (2024)
• Vasantham nagar Ext: Rs 1,320 per sq.ft (2024)
• Vasantham nagar: Rs 2,200 per sq.ft (2024)
• Vanilarasu Street: Rs 4,400 per sq.ft (2024)
• Veluchetty Street: Rs 2,200 per sq.ft (2024)
• Venkatesachowdry St: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki Street Ext Balaji Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. 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 Street Ext Balaji Nagar Annex?

The Vasuki Street Ext Balaji Nagar Annex is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Tambaram. It is used to determine the stamp duty and registration fees, which are essential costs associated with property transactions.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently, adhering to the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Vasuki Street Ext Balaji Nagar Annex?

The current guideline value of Vasuki Street Ext Balaji Nagar Annex is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2012 figure at Rs 1,500 per sq.ft, dropping to Rs 1,005 per sq.ft in 2017, then rising to Rs 1,500 per sq.ft in 2023, and finally reaching Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft property at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Vasuki Street Ext Balaji Nagar Annex?

The Tambaram Joint 1 Sub Registrar Office covers Vasuki Street Ext Balaji Nagar Annex, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Vasuki Street Ext Balaji Nagar Annex?

The land classification for Vasuki Street Ext Balaji Nagar Annex is Residential Class I Type - III, indicating its suitability for residential development.