Guideline Value for Vasuki Street

Vasuki Street guideline value

The current guideline value of Vasuki Street is Rs 4,400 per sq.ft. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class III 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 2007, the value was Rs 800 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. However, this figure then decreased to Rs 2,680 per sq.ft in 2017. The value rose again to Rs 4,000 per sq.ft in 2023 and is now Rs 4,400 per sq.ft as of the 2024 revision, effective from 1 July 2024. There are no figures available for the years 2002 and 2003 in the register for this street.

Between the revisions, the changes are notable. From 2007 to 2012, there was a substantial increase of 400%. However, from 2012 to 2017, the value decreased by 33%. The value then saw a significant rise of 49% from 2017 to 2023, and an increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing Vasuki Street's 2024 figure below this median.

• Vedachalam Avenue: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 1st Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 2nd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 4th Street: Rs 4,900 per sq.ft (2024)
• Vedachalam Nagar 5th Street: Rs 4,900 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 details.

Which Sub Registrar Office covers Vasuki Street?

The Sub Registrar Office that covers Vasuki Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure that they are paying the correct amount during the registration process.

When a property is registered, the guideline value is considered the minimum value for the transaction. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Vasuki Street?

The current guideline value of Vasuki Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the land classification for Vasuki Street?

Vasuki Street is classified as Residential Class III Type - III.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Kodambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.