Guideline Value for VASANTHAM NAGAR PHASE-I

Vasantham Nagar Phase-I guideline value

The current guideline value for Vasantham Nagar Phase-I is Rs 825 per sq.ft, effective from 1 July 2024. This area is located in Korattur-B village under the Avadi SRO, and the land classification is Residential Special Type - III.

How the guideline value of Vasantham Nagar Phase-I has changed

According to the register, there are no figures available for Vasantham Nagar Phase-I for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 825 per sq.ft.

Since the 2024 revision is the only figure recorded for this street, there have been no changes between the revisions above, as no previous values exist for comparison.

Guideline values in Korattur-B

In Korattur-B, there are 11 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 2,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value for Vasantham Nagar Phase-I is below this median.

• Srinivasa Nagar: Rs 165 per sq.ft (2024)
• Nri Nest: Rs 1,100 per sq.ft (2024)
• Meenachi Nagar: Rs 990 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Ashok Nandhavanam Phase-III: Rs 1,100 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,485 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 rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasantham Nagar Phase-I?

The Sub Registrar Office that covers Vasantham Nagar Phase-I is the Avadi Sub Registrar Office. The address is Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Korattur-B

The guideline value is a critical factor during the registration of property transactions in Korattur-B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being registered.

Frequently asked questions

What is the current guideline value for Vasantham Nagar Phase-I?

The current guideline value for Vasantham Nagar Phase-I is Rs 825 per sq.ft, effective from 1 July 2024.

What land classification does Vasantham Nagar Phase-I fall under?

Vasantham Nagar Phase-I is classified as Residential Special Type - III.

What are the other streets in Korattur-B and their guideline values?

Other streets in Korattur-B include Srinivasa Nagar at Rs 165 per sq.ft, Nri Nest at Rs 1,100 per sq.ft, Meenachi Nagar at Rs 990 per sq.ft, Balaji Nagar at Rs 550 per sq.ft, Ashok Nandhavanam Phase-III at Rs 1,100 per sq.ft, and Ashok Nandavanam at Rs 1,485 per sq.ft.

How is the stamp duty calculated for Vasantham Nagar Phase-I?

Stamp duty for Vasantham Nagar Phase-I is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 57,750.

Where is the Sub Registrar Office for Vasantham Nagar Phase-I located?

The Sub Registrar Office for Vasantham Nagar Phase-I is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.