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 area is located in Sattamangalam 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. The earliest available revision is from 2012, where the guideline value was Rs 600 per sq.ft. This figure remained the same in the subsequent revision in 2012. However, in 2017, the guideline value decreased to Rs 402 per sq.ft. Following this, there was a significant increase to Rs 600 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 660 per sq.ft.

In terms of percentage changes, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 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 1,100 per sq.ft, placing the 2024 guideline value of Vasantham Nagar (Kr) below this 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Please 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 Sattamangalam

The guideline value is a crucial factor when buying or selling property in Sattamangalam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the property is registered at a fair value. Buyers and sellers must be aware of the current guideline value to accurately assess the costs involved in the transaction.

When registering a property, the guideline value helps determine the legal value of the property for taxation purposes. It is essential for both parties in a transaction to understand the guideline value to avoid any discrepancies during the registration process.

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 as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes. It was Rs 600 per sq.ft in 2012, decreased to Rs 402 per sq.ft in 2017, increased to Rs 600 per sq.ft in 2023, and finally reached 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, which indicates its designation for residential purposes.

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

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

How is stamp duty calculated 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, for a property valued at Rs 6,60,000, the stamp duty would be calculated at 7% of that amount.