Guideline Value for Vasuki nagar

Vasuki nagar guideline value

The current guideline value of Vasuki nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Santhavellur village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasuki nagar has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This remained unchanged in the 2017 revision, where it was also Rs 700 per sq.ft. However, from 2017 to 2023, the value increased to Rs 700 per sq.ft, marking a 49% increase from Rs 469 per sq.ft in 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

In the 2023 revision, the guideline value remained at Rs 700 per sq.ft, and this value is set to continue in the 2024 revision, which also lists it at Rs 700 per sq.ft, indicating no change from the previous year. Overall, from 2012 to 2024, the guideline value has seen no change, remaining at Rs 700 per sq.ft.

Guideline values in Santhavellur

Santhavellur village features 63 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 2,800 per sq.ft. The median guideline value across these streets is Rs 500 per sq.ft, positioning Vasuki nagar's 2024 value above this median.

• Vasavi Nagar: Rs 700 per sq.ft (2024)
• varasithi Vinayagar Street: Rs 200 per sq.ft (2024)
• Venus Nagar: Rs 400 per sq.ft (2024)
• Vinatha Nagar: Rs 305 per sq.ft (2024)
• VMR Nagar: Rs 200 per sq.ft (2024)
• Sunguvarchitram Walajabad Main Road: Rs 1,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vasuki nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 information.

Which Sub Registrar Office covers Vasuki nagar?

The Sub Registrar Office that covers Vasuki nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Santhavellur, as it serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vasuki nagar?

The current guideline value of Vasuki nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to 2023.

What is the land classification of Vasuki nagar?

Vasuki nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Vasuki nagar?

The Sub Registrar Office for Vasuki nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vasuki nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 at a rate of 7%.