Guideline Value for VASANTHAM NAGAR (KR)

Vasantham Nagar (Kr) guideline value

The current guideline value for Vasantham Nagar (Kr) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur 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

Over the years, the guideline value for Vasantham Nagar (Kr) has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft, marking a decrease of 33%. The value then increased to Rs 600 per sq.ft in the 2023 revision, and subsequently rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, comparing the 2012 revision to the 2024 revision, there has been a 10% increase. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, making the guideline value for Vasantham Nagar (Kr) below the median.

• Vasukiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Vanchinathan Street (Ward -8): Rs 1,320 per sq.ft (2024)
• Veerakavirayar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Veeramamunivar Street (Ward -4): Rs 1,320 per sq.ft (2024)
• Veeran Alagumuthu Cone (Ward -8): Rs 1,760 per sq.ft (2024)
• Valliammaiyar Street (Ward -7): Rs 1,320 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 rate, the 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 to Rs 59,400. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Nagar (Kr)?

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

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

The guideline value is a crucial factor in the property registration process in Panangottur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it influences the overall transaction costs. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly affect the total expenses involved in the transaction.

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 varied from Rs 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with significant changes occurring in 2017 and 2023.

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

Vasantham Nagar (Kr) is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Vasantham Nagar (Kr)?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 59,400 in fees.

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

The Sub Registrar Office for Vasantham Nagar (Kr) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, under the Chengalpattu registration zone.