Guideline Value for SRI VATHSA NAGAR PHASE2

Sri Vathsa Nagar Phase2 guideline value

The current guideline value of Sri Vathsa Nagar Phase2 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 Phase2 has changed

The guideline value for Sri Vathsa Nagar Phase2 has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged through the 2017 revision. However, in 2017, the value was adjusted to Rs 335 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision brought the value back to Rs 500 per sq.ft, and it remained unchanged in the 2024 revision, indicating a 0% change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has not changed.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. This lack of data means that the guideline value history for Sri Vathsa Nagar Phase2 is primarily based on the figures from 2012, 2017, 2023, and 2024.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 700 per sq.ft. The median guideline value in the village is Rs 400 per sq.ft, which means that the guideline value of Sri Vathsa Nagar Phase2 is above this median.

• Sri Vathsa Nagar Phasei: 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 Phase2

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total 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, bringing the total to Rs 45,000. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vathsa Nagar Phase2?

Sri Vathsa Nagar Phase2 is covered by 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 crucial factor during 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 to the government.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vathsa Nagar Phase2?

The current guideline value of Sri Vathsa Nagar Phase2 is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since the 2012 revision, decreased to Rs 335 per sq.ft in 2017, and returned to Rs 500 per sq.ft in both 2023 and 2024.

What is the land classification for Sri Vathsa Nagar Phase2?

The land classification for Sri Vathsa Nagar Phase2 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.

How is the stamp duty calculated for properties in Sri Vathsa Nagar Phase2?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.