Guideline Value for VASANTHAM COLONY 3rd MAIN ROAD

VASANTHAM COLONY 3rd MAIN ROAD guideline value

The current guideline value for VASANTHAM COLONY 3rd 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 is classified as Residential Class I Type - III.

How the guideline value of VASANTHAM COLONY 3rd MAIN ROAD has changed

The guideline value for VASANTHAM COLONY 3rd MAIN ROAD has seen several revisions over the years. Starting with the 2007 revision, the value was Rs 7,500 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a 20% rise. However, it then decreased to Rs 6,030 per sq.ft in 2017, a decline of 33%. The value rebounded significantly to Rs 9,000 per sq.ft in 2023, reflecting a 49% increase. The current value is Rs 9,800 per sq.ft from the 2024 revision, which is a 9% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 31%.

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. The median guideline value in this area is Rs 4,900 per sq.ft, placing VASANTHAM COLONY 3rd MAIN ROAD above this median.

• VASANTHAM COLONY 3rd CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 4th CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 2nd MAIN ROAD: Rs 12,100 per sq.ft (2024)
• VASANTHAM COLONY 5th CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 2nd CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 1st MAIN ROAD: Rs 9,800 per sq.ft (2024)

Stamp duty and registration fee for property in VASANTHAM COLONY 3rd 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 at 7% would be Rs 6,86,000, and the registration fee at 2% would be Rs 1,96,000, bringing the total cost for these fees 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.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers VASANTHAM COLONY 3rd MAIN ROAD?

The Sub Registrar Office that covers VASANTHAM COLONY 3rd MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor during 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 be aware that the guideline value is used to calculate the stamp duty and registration fees applicable at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in the real estate market and ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VASANTHAM COLONY 3rd MAIN ROAD?

The current guideline value of VASANTHAM COLONY 3rd 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 multiple times, starting from Rs 7,500 per sq.ft in 2007, rising to Rs 9,000 in 2012, then decreasing to Rs 6,030 in 2017, and increasing again to Rs 9,000 in 2023. The current value is Rs 9,800 as of the 2024 revision.

What is the land classification for VASANTHAM COLONY 3rd MAIN ROAD?

VASANTHAM COLONY 3rd MAIN ROAD is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

Where can I find more information about stamp duty and registration fees?

For detailed information about stamp duty and registration fees, you can use our stamp duty and registration fee calculator.

Which office handles registrations for properties in Villivakkam?

The Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, handles registrations for properties in Villivakkam.