Guideline Value for VASANTHAM NAGAR 2ND STREET

Vasantham Nagar 2nd Street guideline value

The current guideline value of Vasantham Nagar 2nd 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 2nd Street has changed

Over the years, the guideline value for Vasantham Nagar 2nd Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from Rs 1,005 per sq.ft in 2017. The 2023 revision increased the guideline value to Rs 1,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision shows an increase of 10%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value for Vasantham Nagar 2nd Street below the median.

• Vasantham Nagar 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Nagar 2nd Street?

The Vasantham Nagar 2nd Street falls under 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 details.

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

The guideline value plays a crucial role in the registration process of properties in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the financial aspects of property transactions. The registration office will refer to the guideline value to ensure that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value for Vasantham Nagar 2nd Street?

The current guideline value for Vasantham Nagar 2nd 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 changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Vasantham Nagar 2nd Street?

The land classification for Vasantham Nagar 2nd Street is Residential Class IV Type - I.

Which Sub Registrar Office covers this street?

The Chennai South Joint I Sub Registrar Office covers Vasantham Nagar 2nd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in this area?

The stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.