Guideline Value for Vasuki Street

Vasuki Street guideline value

The current guideline value of Vasuki Street is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Porur village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Vasuki Street has changed

The guideline value for Vasuki Street has undergone several revisions over the years. In 2002, the value was Rs 188 per sq.ft, which increased to Rs 270 per sq.ft in 2003, marking a 44% rise. The value further increased to Rs 750 per sq.ft in 2007, representing a significant jump of 178%. In 2012, the guideline value was Rs 2,600 per sq.ft, which was a 247% increase from the previous revision. However, this figure saw a decrease of 33% to Rs 1,742 per sq.ft in 2017. The value then rose to Rs 2,600 per sq.ft in 2023, before reaching the current value of Rs 2,860 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,421%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, placing Vasuki Street's 2024 figure below that median.

• Varadaraja Nagar: Rs 2,860 per sq.ft (2024)
• Vanniyar Street: Rs 2,860 per sq.ft (2024)
• Valluvar Street: Rs 2,860 per sq.ft (2024)
• Velu Nayakkar Street: Rs 2,860 per sq.ft (2024)
• Vaithiyalingam Nayakkar Street: Rs 3,520 per sq.ft (2024)
• Venkateshwara Nagar: Rs 6,380 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 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total fees to Rs 2,57,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vasuki Street?

The Sub Registrar Office covering Vasuki Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for additional details.

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

The guideline value is a crucial factor when registering property transactions in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is officially documented and taxed appropriately.

When buying or selling property, the guideline value helps establish the stamp duty and registration fees payable. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vasuki Street?

The current guideline value of Vasuki Street is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 188 per sq.ft in 2002 to Rs 2,860 per sq.ft in 2024, reflecting an overall increase of 1,421% over this period.

What are the stamp duty and registration fees for properties on Vasuki Street?

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200, and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Which office handles registrations for Vasuki Street?

The Kunrathur Sub Registrar Office handles registrations for Vasuki Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Vasuki Street?

Vasuki Street is classified as Residential Special Type - III, indicating its designated use for residential purposes within the area.