Guideline Value for VASANTHAM NAGAR (KR)

Vasantham Nagar (Kr) guideline value

The current guideline value of Vasantham Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This locality is situated in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - III.

How the guideline value of Vasantham Nagar (Kr) has changed

The guideline value for Vasantham Nagar (Kr) has undergone several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, there was a significant increase of 49%, bringing the value to Rs 600 per sq.ft in 2023. The most recent revision in 2024 saw another increase of 10%, resulting in the current value of Rs 660 per sq.ft.

It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Vasantham Nagar (Kr) below this median.

• Vasukiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Vanchinathan Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Valliammaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Nagar (Kr)?

The Sub Registrar Office that covers Vasantham Nagar (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Ninna Karai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property registration. The guideline value ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar (Kr)?

The current guideline value of Vasantham Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Vasantham Nagar (Kr)?

Vasantham Nagar (Kr) is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Vasantham Nagar (Kr)?

The Chengleput Joint II Sub Registrar Office covers Vasantham Nagar (Kr) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vasantham Nagar (Kr)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total fee of Rs 59,400.