Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This locality is situated in Venkatapuram village, under the Chengleput Joint II SRO, classified as Residential Class I Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. In 2007, the guideline value was set at Rs 50 per sq.ft. This figure saw a significant increase in 2012, rising to Rs 400 per sq.ft, marking a 700% change. However, in 2017, the value dropped to Rs 268 per sq.ft, which was a decrease of 33%. The value then increased to Rs 400 per sq.ft in 2023, remaining stable through to the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The current 2024 revision maintains the value at Rs 400 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current guideline value for Vasantham Nagar.

• Vedhathri Nagar: Rs 500 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• St.John Colony: Rs 400 per sq.ft (2024)
• Sri Lakshmi Narayana Nagar: Rs 400 per sq.ft (2024)
• Sathiya Narayana Nagar: Rs 400 per sq.ft (2024)
• Sapthagiri Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total cost for these fees to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasantham Nagar?

The Vasantham Nagar locality 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 Venkatapuram

The guideline value is a crucial factor in property transactions in Venkatapuram. It determines the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value serves as a benchmark for the transaction, influencing the overall cost of registration. It is essential for both parties to understand how this value affects their financial obligations during the sale.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and returned to Rs 400 per sq.ft in 2023 and 2024.

What is the median guideline value in Venkatapuram?

The median guideline value in Venkatapuram is Rs 400 per sq.ft, which is the same as the current guideline value for Vasantham Nagar.

What are the stamp duty and registration fees for Vasantham Nagar?

The stamp duty is 7% and the registration fee is 2%. For a property valued at Rs 4,00,000, the total fees would amount to Rs 36,000.

Which office handles registrations for Vasantham Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Vasantham Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.