Guideline Value for Vyasar Street

Vyasar Street guideline value

The current guideline value of Vyasar Street in Selaiyur village under the Selaiyur SRO is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Vyasar Street has changed

The guideline value for Vyasar Street has seen several revisions over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in the 2012 revision, marking a 350% increase. However, the value dropped to Rs 1,809 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw a substantial rise to Rs 2,700 per sq.ft, followed by a further increase to the current value of Rs 2,900 per sq.ft in the 2024 revision, which is a 7% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 383%. It is important to note that the register has no figures for Vyasar Street for the years 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vyasar Street is above this median.

• Zion Street: Rs 1,400 per sq.ft (2024)
• Vinobha Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Vinobha Nagar 1st Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Vyasar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees to Rs 2,61,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vyasar Street?

The Sub Registrar Office that covers Vyasar 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, 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 of a property for registration purposes, ensuring that the property is not undervalued. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Vyasar Street?

The current guideline value of Vyasar Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, representing an overall increase of 383%.

What are the stamp duty and registration fees for Vyasar Street?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Which office handles the registration for Vyasar Street?

The Selaiyur Sub Registrar Office handles the registration for Vyasar Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.

What is the land classification for Vyasar Street?

Vyasar Street is classified as Residential Special Type - I, which indicates its intended use for residential purposes.