Guideline Value for VASANTHAM COLONY

Vasantham Colony guideline value

The current guideline value of Vasantham Colony, located in Villivakkam village under the Villivakkam SRO, is Rs 9,800 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Vasantham Colony has changed

Over the years, the guideline value of Vasantham Colony has seen various revisions. The 2007 revision set the value at Rs 7,500 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, representing a 20% increase. However, from 2012 to 2017, the value decreased significantly to Rs 6,030 per sq.ft, marking a decline of 33%. The value then rose sharply to Rs 9,000 per sq.ft in 2023, a 49% increase, and finally reached Rs 9,800 per sq.ft in 2024, reflecting a 9% increase.

The register has no 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, with a median value of Rs 4,900 per sq.ft. The guideline value for Vasantham Colony is above this median.

• VASANTHAM COLONY 1st CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 1st MAIN ROAD: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 2nd CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 2nd MAIN ROAD: Rs 12,100 per sq.ft (2024)
• VASANTHAM COLONY 3rd CROSS STREET: Rs 9,800 per sq.ft (2024)
• VASANTHAM COLONY 3rd MAIN ROAD: Rs 9,800 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 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, making the total cost for these fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Colony?

The Vasantham Colony is covered by 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Villivakkam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered the minimum value for calculating these fees. Buyers should be aware that the fees are based on the higher of either the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Vasantham Colony?

The current guideline value of Vasantham Colony 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 the years.

What is the land classification of Vasantham Colony?

Vasantham Colony is classified as Residential Class I Type - III.

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

For a property valued at Rs 98,00,000, the stamp duty would be Rs 6,86,000, and the registration fee would be Rs 1,96,000, totaling Rs 8,82,000.

Which Sub Registrar Office covers Vasantham Colony?

The Villivakkam Sub Registrar Office covers Vasantham Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.