Guideline Value for VASANTHAM COLONY

Vasantham Colony guideline value

The current guideline value of Vasantham Colony, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Vasantham Colony has changed

The guideline value for Vasantham Colony has seen significant changes over the years. In 2002, the value was Rs 18 per sq.ft, which rose to Rs 20 per sq.ft in 2003. Following this, the value increased dramatically to Rs 100 per sq.ft in 2007, and further to Rs 300 per sq.ft in 2012. However, there was a decrease to Rs 201 per sq.ft in 2017. The value then increased again, reaching Rs 1,002 per sq.ft in both 2023 and 2024, showing a remarkable increase of 399% from 2017 to 2023.

There are no figures available for revisions in the years not mentioned in the register. The guideline value has increased overall by 5,467% from 2002 to 2024, reflecting substantial changes in the area over the years.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft. The median value is Rs 1,002 per sq.ft, which is equal to the guideline value of Vasantham Colony.

• Venkateshwara Nagar: Rs 1,002 per sq.ft (2024)
• Thiyagi Viswanatha Dass Nagar: Rs 1,001 per sq.ft (2024)
• Thangam Colony Ext: Rs 1,002 per sq.ft (2024)
• Thangam Colony: Rs 1,002 per sq.ft (2024)
• Subam Colony Extn: Rs 1,002 per sq.ft (2024)
• Subam Colony: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, bringing the total cost for these fees to Rs 90,180. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Colony?

The Sub Registrar Office that covers Vasantham Colony is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kosappur. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. This value helps in establishing a clear understanding of the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Vasantham Colony?

The current guideline value of Vasantham Colony is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 18 per sq.ft in 2002 to Rs 1,002 per sq.ft in 2024, showing an overall increase of 5,467% over this period.

What are the stamp duty and registration fees for properties in Vasantham Colony?

For a 1,000 sq.ft plot, the total guideline value is Rs 10,02,000. The stamp duty is Rs 70,140, and the registration fee is Rs 20,040, totaling Rs 90,180.

Which office handles property registrations in Vasantham Colony?

The Thiruvottiyur Sub Registrar Office handles property registrations for Vasantham Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Vasantham Colony?

The land classification for Vasantham Colony is Residential Special Type - II, indicating its designation for residential purposes.