Guideline Value for Vasuki Street

Vasuki Street guideline value

The current guideline value of Vasuki Street is Rs 1,800 per sq.ft. This street is located in Selaiyur 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 850 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012, marking a 100% rise. However, between 2012 and 2017, the value decreased to Rs 1,139 per sq.ft, a decline of 33%. The value then rose sharply to Rs 1,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision, effective from 1 July 2024, has set the guideline value at Rs 1,800 per sq.ft, an increase of 6% from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Vasuki Street. Overall, from 2007 to 2024, the guideline value has increased by 112%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which means that the 2024 guideline value of Vasuki Street is below this median.

• Vasanthi Colony: Rs 850 per sq.ft (2024)
• Vedhachalam Street: Rs 1,600 per sq.ft (2024)
• Veerabedran Street: Rs 1,100 per sq.ft (2024)
• Varalakshmi Street: Rs 850 per sq.ft (2024)
• Varadarajapuram: Rs 850 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 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 1,800 per sq.ft, the total guideline value would be Rs 18,00,000. The stamp duty at 7% would amount to Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, bringing the total cost to Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasuki Street?

The Sub Registrar Office that covers 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 Selaiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This means that buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vasuki Street?

The current guideline value of Vasuki Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value of Vasuki Street changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 1,800 per sq.ft in 2024, reflecting an overall increase of 112% over the years.

What is the median guideline value for streets in Selaiyur?

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

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 18,00,000, with stamp duty at Rs 1,26,000 and registration fees at Rs 36,000, totaling Rs 1,62,000.

Where is the Sub Registrar Office for Vasuki Street located?

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