Guideline Value for VASANTHAM NAGAR (KR)

Vasantham Nagar (Kr) guideline value

The current guideline value of Vasantham Nagar (Kr) is Rs 661 per sq.ft, effective from 1 July 2024. This area is located in Peramanoor village under the Chengleput Joint II SRO, 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. 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%. In 2023, the value increased to Rs 600 per sq.ft again, and the most recent revision in 2024 raised it to Rs 661 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor village, there are 430 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the current guideline value of 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 guideline value of Rs 661 per sq.ft, the total guideline value would be Rs 6,61,000. The stamp duty at 7% would amount to Rs 46,270, and the registration fee at 2% would be Rs 13,220. Together, the total cost for these fees would be Rs 59,490. 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 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, 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 Peramanoor

The guideline value is a crucial factor during property registration in Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which must be paid at the time of registration to complete the transaction legally.

Frequently asked questions

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

The current guideline value of Vasantham Nagar (Kr) is Rs 661 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 back to Rs 600 per sq.ft in 2023, and finally to Rs 661 per sq.ft in 2024.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 59,490.

Which office handles property registrations in Vasantham Nagar (Kr)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Vasantham Nagar (Kr), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is essential as it determines the minimum value for property registration and is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during property transactions.