Guideline Value for VASANTHACOLONY

Vasanthacolony guideline value

The current guideline value of Vasanthacolony is Rs 3,900 per sq.ft, effective from 1 July 2024. This area is located in Nandhambakkam village, under the Alandur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vasanthacolony has changed

The guideline value for Vasanthacolony has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,200 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 192%. However, in the 2017 revision, the value decreased to Rs 2,345 per sq.ft, which was a decline of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 225%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

Nandhambakkam village has a range of guideline values across its 76 streets under the Alandur SRO, with the 2024 figures ranging from Rs 2,200 to Rs 8,300 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for Vasanthacolony.

• Vempuliyamman Koil Street: Rs 3,300 per sq.ft (2024)
• Triumph Squre: Rs 3,900 per sq.ft (2024)
• Thulasingapuram: Rs 3,300 per sq.ft (2024)
• West Kulakkarai Street: Rs 3,900 per sq.ft (2024)
• West Mada Street: Rs 4,400 per sq.ft (2024)
• West Mada Veedhi: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthacolony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasanthacolony?

The Sub Registrar Office that covers Vasanthacolony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Nandhambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during property registration.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the transaction reflects a fair valuation as per the government's standards, thereby preventing undervaluation.

Frequently asked questions

What is the current guideline value of Vasanthacolony?

The current guideline value of Vasanthacolony is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 225% over the years.

What are the other streets in Nandhambakkam with their guideline values?

Other streets in Nandhambakkam include Vempuliyamman Koil Street at Rs 3,300 per sq.ft, Triumph Squre at Rs 3,900 per sq.ft, and West Mada Street at Rs 4,400 per sq.ft, among others.

How is stamp duty calculated in Vasanthacolony?

Stamp duty in Vasanthacolony is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000.

Where can I find the Sub Registrar Office for Vasanthacolony?

The Sub Registrar Office for Vasanthacolony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.