Guideline Value for Vasuki Street

Vasuki Street guideline value

The current guideline value of Vasuki Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vasuki Street has changed

The guideline value for Vasuki Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it saw a decrease to Rs 1,005 per sq.ft in 2017. The latest revision in 2023 set the value at Rs 1,500 per sq.ft, and the current value is Rs 1,600 per sq.ft from the 2024 revision, marking a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 256%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this village is Rs 2,200 per sq.ft, making Vasuki Street's current value below that median.

• Vasantham Nagar: Rs 950 per sq.ft (2024)
• Vasantham Avenue: Rs 950 per sq.ft (2024)
• Veeramamunivar Street: Rs 1,600 per sq.ft (2024)
• Velachery Main Road: Rs 4,300 per sq.ft (2024)
• Valmiki Sali: Rs 950 per sq.ft (2024)
• Vembuli Bhavanandhiar Street Extn: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, while the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. 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 Street?

The Sub Registrar Office covering Vasuki Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor in the registration of property transactions in Chembakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value acts as a benchmark for assessing the transaction value. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Vasuki Street?

The current guideline value of Vasuki Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 256% over the years.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which is higher than the current value of Vasuki Street.

What are the stamp duty and registration fees for property in Vasuki Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Where is the Sub Registrar Office for Vasuki Street located?

The Sub Registrar Office for Vasuki Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.