Guideline Value for VASAN NAGAR

Vasan Nagar guideline value

The current guideline value of Vasan Nagar is Rs 300 per sq.ft. This area is located in Kumili village under the Thiruporur SRO, and the land classification is Mixed Type - I.

How the guideline value of Vasan Nagar has changed

The guideline value for Vasan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was adjusted to Rs 201 per sq.ft, marking a decrease of 33%. The subsequent 2023 revision brought the value back to Rs 300 per sq.ft, and this figure has remained the same in the 2024 revision, showing no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 300 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Kumili

In Kumili village, there are 21 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Vasan Nagar's 2024 figure below this median.

• Sri Vigneshwara Nagar: Rs 500 per sq.ft (2024)
• Somas Garden Phase I, II & III: Rs 400 per sq.ft (2024)
• Shri Mayura Avenue: Rs 800 per sq.ft (2024)
• Shri Kantha Garden: Rs 300 per sq.ft (2024)
• Sai Sarvesh Nagar: Rs 1,400 per sq.ft (2024)
• Saastha Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Vasan Nagar?

The Sub Registrar Office that covers Vasan Nagar is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kumili. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a buyer or seller engages in a property transaction, the guideline value affects the calculation of stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasan Nagar?

The current guideline value of Vasan Nagar is Rs 300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a decrease to Rs 201 per sq.ft in 2017 before returning to Rs 300 per sq.ft in 2023.

What are the other streets in Kumili and their guideline values?

Other streets in Kumili include Sri Vigneshwara Nagar at Rs 500 per sq.ft, Somas Garden Phase I, II & III at Rs 400 per sq.ft, and several others with varying values.

What are the stamp duty and registration fees for property in Vasan Nagar?

For a 1,000 sq.ft property at Rs 300 per sq.ft, the total guideline value is Rs 3,00,000, resulting in a stamp duty of Rs 21,000 and a registration fee of Rs 6,000.

Which Sub Registrar Office covers Vasan Nagar?

The Thiruporur Sub Registrar Office covers Vasan Nagar, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.