Guideline Value for SRI VATHSA NAGAR PHASEI

Sri Vathsa Nagar Phasei guideline value

The current guideline value of Sri Vathsa Nagar Phasei is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Maiyur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Vathsa Nagar Phasei has changed

The guideline value for Sri Vathsa Nagar Phasei has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. This figure remained unchanged in the 2017 revision, where it dropped to Rs 335 per sq.ft. The 2023 revision brought it back to Rs 500 per sq.ft, and the current 2024 revision maintains this value at Rs 500 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by an increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 500 per sq.ft.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 700 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value for Sri Vathsa Nagar Phasei is above this median.

• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 500 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 700 per sq.ft (2024)
• Trinty Avenue: Rs 500 per sq.ft (2024)
• Saroja Nagar: Rs 400 per sq.ft (2024)
• Venkateswara Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vathsa Nagar Phasei

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 further calculations.

Which Sub Registrar Office covers Sri Vathsa Nagar Phasei?

The Sub Registrar Office that covers Sri Vathsa Nagar Phasei is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Maiyur

The guideline value is a critical component in the registration process when buying or selling property in Maiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. This value is essential for both buyers and sellers to understand the financial obligations involved in property transactions.

Frequently asked questions

What is the current guideline value of Sri Vathsa Nagar Phasei?

The current guideline value of Sri Vathsa Nagar Phasei is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and remains at Rs 500 per sq.ft in 2024.

What is the land classification for Sri Vathsa Nagar Phasei?

The land classification for Sri Vathsa Nagar Phasei is Residential Special Type - I.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Sri Vathsa Nagar Phasei?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000, leading to a stamp duty of Rs 35,000.