Guideline Value for VASANTHAM NAGAR EXTENSION I,II,III,IV,V,IV

Vasantham Nagar Extension I,II,III,IV,V,IV guideline value

The current guideline value for Vasantham Nagar Extension I,II,III,IV,V,IV is Rs 1,212 per sq.ft, effective from 1 July 2024. This area is located in Melamaiyur village, under the Chengleput Joint I SRO, and is classified as Mixed Type - I.

How the guideline value of Vasantham Nagar Extension I,II,III,IV,V,IV has changed

The guideline value for Vasantham Nagar Extension I,II,III,IV,V,IV has seen several revisions over the years. The earliest recorded figure is from the 2017 revision at Rs 737 per sq.ft. This was followed by an increase to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,212 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,000 per sq.ft. The median value is Rs 1,212 per sq.ft, which is the same as the guideline value for Vasantham Nagar Extension I,II,III,IV,V,IV. Below are the guideline values for other streets in Melamaiyur:

• V.M. Garden: Rs 1,320 per sq.ft (2024)
• Thirukazhukundram Road: Rs 1,650 per sq.ft (2024)
• Sri Ram Nagar: Rs 825 per sq.ft (2024)
• Srinivasan Avenue: Rs 1,650 per sq.ft (2024)
• Sri Guru Nagar: Rs 1,212 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar Extension I,II,III,IV,V,IV

For a 1,000 sq.ft plot at the current guideline value of Rs 1,212 per sq.ft, the total guideline value amounts to Rs 12,12,000. The stamp duty at 7% would be Rs 84,840, and the registration fee at 2% would be Rs 24,240, bringing the total cost to Rs 1,09,080. It is important to note that the 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 Extension I,II,III,IV,V,IV?

The Sub Registrar Office that covers Vasantham Nagar Extension I,II,III,IV,V,IV is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Melamaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value set by the registration department. This process is crucial for maintaining transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Vasantham Nagar Extension I,II,III,IV,V,IV?

The current guideline value of Vasantham Nagar Extension I,II,III,IV,V,IV is Rs 1,212 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 737 per sq.ft in 2017 to Rs 1,212 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 12,12,000, the stamp duty would be Rs 84,840, and the registration fee would be Rs 24,240, totaling Rs 1,09,080.

Which Sub Registrar Office is responsible for Vasantham Nagar Extension I,II,III,IV,V,IV?

The Chengleput Joint I Sub Registrar Office is responsible for Vasantham Nagar Extension I,II,III,IV,V,IV, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Vasantham Nagar Extension I,II,III,IV,V,IV?

The land classification for Vasantham Nagar Extension I,II,III,IV,V,IV is Mixed Type - I.