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 Mamandoor village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Sri Vathsa Nagar Phase2 has changed

Over the years, the guideline value of Sri Vathsa Nagar Phase2 has seen several revisions. The most recent revision in 2024 maintains the guideline value at Rs 500 per sq.ft, the same as the previous revision in 2023. Prior to that, in 2017, the value was Rs 335 per sq.ft, marking a significant increase of 49% from 2017 to 2023. In 2012, the value was also Rs 500 per sq.ft, which indicates a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 500 per sq.ft.

It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street. This lack of data means we can only consider the revisions from 2012 onward for a clearer understanding of the guideline value changes.

Guideline values in Mamandoor

In Mamandoor village, 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, with the median value being Rs 500 per sq.ft. The guideline value for Sri Vathsa Nagar Phase2 aligns with this median.

• Sri Vathsa Nagar Phasei: 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 Phase2

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total 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, bringing the total cost to Rs 45,000. It is important to note that the 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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Sri Vathsa Nagar Phase2?

The Sub Registrar Office that covers Sri Vathsa Nagar Phase2 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 further assistance.

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

The guideline value is a crucial reference point used during the registration of property transactions in Mamandoor. It helps determine the stamp duty and registration fees that buyers and sellers must pay when completing a property sale.

When a buyer or seller registers a property, the guideline value serves as the baseline for calculating applicable fees. This ensures that the transaction is recorded accurately and complies with local regulations.

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 2012, with a significant increase from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023. The value did not change from 2023 to 2024.

What is the land classification for Sri Vathsa Nagar Phase2?

Sri Vathsa Nagar Phase2 is classified as Residential Special Type - II, indicating its suitability for residential purposes.

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. This office handles registrations for properties in the area.

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

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 is Rs 5,00,000, leading to a stamp duty of Rs 35,000.