Guideline Value for VASANTHAM NAGAR 1ST STREET

Vasantham Nagar 1st Street guideline value

The current guideline value of Vasantham Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Vasantham Nagar 1st Street has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure then decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 sees the guideline value increase to Rs 1,650 per sq.ft, which is a 10% increase from the previous year.

The register has no figure for Vasantham Nagar 1st Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Iyyappanthangal

Within Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Vasantham Nagar 1st Street is below this median.

• Vasantham Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar: Rs 1,650 per sq.ft (2024)
• Vanniyar Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Ist Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Cross Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasantham Nagar 1st Street?

The Sub Registrar Office that covers Vasantham Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Iyyappanthangal. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall costs involved in the transaction. Buyers should ensure that they are prepared for the financial implications of these fees based on the guideline value.

Frequently asked questions

What is the current guideline value of Vasantham Nagar 1st Street?

The current guideline value of Vasantham Nagar 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent increase from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the registration office for Vasantham Nagar 1st Street?

The registration office for Vasantham Nagar 1st Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty and registration fees for property in Vasantham Nagar 1st Street?

The stamp duty for property in Vasantham Nagar 1st Street is 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 1,48,500.

Where can I find more information about guideline values in Iyyappanthangal?

More information about guideline values in Iyyappanthangal can be found in the registration department's guideline value register (TNReginet) or by visiting the Chennai South Joint I SRO.