Guideline Value for SRI VATHSA NAGAR PHASEI

Sri Vathsa Nagar Phasei guideline value

The current guideline value for Sri Vathsa Nagar Phasei is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Mamandoor village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

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 2012, the guideline value was Rs 500 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 335 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, reflecting a rise of 49% since 2017. The 2024 revision maintained this value at Rs 500 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 500 per sq.ft, showing no net change over this period.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,200 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which aligns with the current guideline value for Sri Vathsa Nagar Phasei.

• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Sai Sreevari Nagar: Rs 500 per sq.ft (2024)
• Sri Padmaladha Avenue: Rs 650 per sq.ft (2024)
• Thirumalai Nagar: Rs 500 per sq.ft (2024)
• S.P.Avenue: Rs 300 per sq.ft (2024)
• Senthil Nagar: Rs 500 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 would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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.

To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Mamandoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in real estate transactions.

When buying or selling property, the guideline value helps in calculating stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value for 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 seen various changes, with the most recent being Rs 500 per sq.ft in 2023 and 2024. The value was Rs 335 per sq.ft in 2017, and Rs 500 per sq.ft in 2012, indicating fluctuations over the years.

What is the land classification for Sri Vathsa Nagar Phasei?

Sri Vathsa Nagar Phasei is classified as Residential Special Type - II, which is relevant for understanding its use and development potential.

Where is the Sub Registrar Office for Sri Vathsa Nagar Phasei located?

The Sub Registrar Office for Sri Vathsa Nagar Phasei is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chenglepurt registration zone.

How are stamp duty and registration fees calculated in Mamandoor?

Stamp duty and registration fees in Mamandoor are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,00,000, the total fees would amount to Rs 45,000, including stamp duty and registration fees.