Guideline Value

Corporate

Guideline Value for VASANTHAM COLONY 1st MAIN ROAD

₹9800/sq.ft.

The guideline value for Vasantham Colony 1st Main Road in Villivakkam village (Villivakkam SRO, Chennai zone) is Rs 9800 per sq.ft, effective 1 July 2024. It was Rs 9000 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Villivakkam

Village

Villivakkam

SRO

Residential Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹9800 /sq.ft.
From 1-4-2023 ₹9000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹6030 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹9000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹7500 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vasantham Colony 1st Main Road

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VASANTHAM COLONY 1st MAIN ROAD guideline value

The current guideline value of VASANTHAM COLONY 1st MAIN ROAD is Rs 9,800 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village under the Villivakkam SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of VASANTHAM COLONY 1st MAIN ROAD has changed

The guideline value for VASANTHAM COLONY 1st MAIN ROAD has seen several revisions over the years. In 2007, the value was Rs 7,500 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012. However, it then decreased to Rs 6,030 per sq.ft in 2017. The value rose significantly to Rs 9,000 per sq.ft in 2023 and further increased to Rs 9,800 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%, while from 2023 to 2024, it rose by 9%. The overall change from 2007 to 2024 is an increase of 31%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of VASANTHAM COLONY 1st MAIN ROAD is above this median.

Stamp duty and registration fee for property in VASANTHAM COLONY 1st MAIN ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 9,800 per sq.ft, the total guideline value amounts to Rs 98,00,000. The stamp duty, calculated at 7%, would be Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, bringing the total cost to Rs 8,82,000. 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 to estimate your costs.

Which Sub Registrar Office covers VASANTHAM COLONY 1st MAIN ROAD?

The Sub Registrar Office that covers VASANTHAM COLONY 1st MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of VASANTHAM COLONY 1st MAIN ROAD?

The current guideline value of VASANTHAM COLONY 1st MAIN ROAD is Rs 9,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2007 to Rs 9,800 per sq.ft in 2024, reflecting an overall increase of 31% over this period.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs can amount to Rs 8,82,000.

Which office handles registrations for VASANTHAM COLONY 1st MAIN ROAD?

The Villivakkam Sub Registrar Office handles registrations for VASANTHAM COLONY 1st MAIN ROAD, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the significance of the guideline value in property transactions?

The guideline value serves as a minimum benchmark for property registration, influencing the stamp duty and registration fees based on the higher of the guideline value or the sale price.