Guideline Value for Sri Arabindo Nagar (Vasantham Nature City)

Sri Arabindo Nagar (Vasantham Nature City) guideline value

The current guideline value of Sri Arabindo Nagar (Vasantham Nature City) is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Arabindo Nagar (Vasantham Nature City) has changed

Since the 2007 revision, the guideline value for Sri Arabindo Nagar has seen significant changes. In 2007, the value was Rs 50 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 300% rise. However, the value dropped to Rs 134 per sq.ft in 2017, a decrease of 33%. The guideline value then remained at Rs 200 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024 and a 49% increase from 2017 to 2023.

Additionally, the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Vallam

Vallam village has a total of 51 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft. The median guideline value for these streets is Rs 200 per sq.ft, which is equal to the current guideline value of Sri Arabindo Nagar.

• Sri Balaji Nagar: Rs 300 per sq.ft (2024)
• Sowndari garden: Rs 600 per sq.ft (2024)
• Sri Devi Nagar: Rs 150 per sq.ft (2024)
• Sivan Koil Street: Rs 200 per sq.ft (2024)
• Sri Ram Nagar: Rs 150 per sq.ft (2024)
• Sri Venkatachalapathy Nagar: Rs 410 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Arabindo Nagar (Vasantham Nature City)

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value is Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Sri Arabindo Nagar (Vasantham Nature City)?

The Sub Registrar Office that covers Sri Arabindo Nagar (Vasantham Nature City) is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Vallam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the authorities will assess the guideline value to calculate the applicable duties, ensuring that the transaction is compliant with local regulations. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Arabindo Nagar?

The current guideline value of Sri Arabindo Nagar (Vasantham Nature City) is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017, and remained at Rs 200 per sq.ft in 2023 and 2024.

What is the median guideline value in Vallam?

The median guideline value in Vallam for the 2024 revision is Rs 200 per sq.ft, which is the same as the guideline value for Sri Arabindo Nagar.

What are the stamp duty and registration fees for a property in Sri Arabindo Nagar?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles registrations for Sri Arabindo Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for Sri Arabindo Nagar (Vasantham Nature City), located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.