Guideline Value for VASANTHAM NAGAR PHASE I

Vasantham Nagar Phase I guideline value

The current guideline value of Vasantham Nagar Phase I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vedavakkam village and falls under the Madurandakam SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Vasantham Nagar Phase I has changed

The guideline value for Vasantham Nagar Phase I has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 200 per sq.ft, and this figure has remained constant into the 2024 revision.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, when comparing the 2012 revision to the 2017 revision, there was a decrease of 33%. Overall, the guideline value from 2012 to 2024 has not changed, remaining at Rs 200 per sq.ft.

Guideline values in Vedavakkam

In Vedavakkam village, there are six streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median value for these streets is Rs 150 per sq.ft, with Vasantham Nagar Phase I's 2024 figure being above this median.

• Vgp Gold Fields: Rs 200 per sq.ft (2024)
• Wings Pon Nagar: Rs 150 per sq.ft (2024)
• Sri Thirumala Garden: Rs 126 per sq.ft (2024)
• Guberamangala Nagar: Rs 100 per sq.ft (2024)
• Anandham Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, resulting in Rs 14,000, while the registration fee is charged at 2%, amounting to Rs 4,000. The total cost for stamp duty and registration fees together is Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vasantham Nagar Phase I?

The Sub Registrar Office that covers Vasantham Nagar Phase I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vedavakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the applicable charges. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vasantham Nagar Phase I?

The current guideline value of Vasantham Nagar Phase I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since the 2012 revision, decreased to Rs 134 per sq.ft in 2017, and returned to Rs 200 per sq.ft in 2023. Overall, there has been no change from 2012 to 2024.

What is the land classification for Vasantham Nagar Phase I?

The land classification for Vasantham Nagar Phase I is Residential Special Type - I.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vasantham Nagar Phase I?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 200 per sq.ft, the total guideline value is Rs 2,00,000, leading to a stamp duty of Rs 14,000.