Guideline Value for VASANTHAM NAGAR S.NO.539/1

Vasantham Nagar S.No.539/1 guideline value

The current guideline value for Vasantham Nagar S.No.539/1 is Rs 880 per sq.ft, effective from 1 July 2024. This property is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class IV Type - I.

How the guideline value of Vasantham Nagar S.No.539/1 has changed

The guideline value for Vasantham Nagar S.No.539/1 has seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft, which decreased to Rs 536 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 800 per sq.ft. The latest revision in 2024 has further increased the value to Rs 880 per sq.ft, marking a 10% rise from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Vasantham Nagar S.No.539/1 below that median.

• Vasantham Nagar S.Nos.539/1, 540/1a: Rs 880 per sq.ft (2024)
• VasanthamNagar: Rs 1,650 per sq.ft (2024)
• Vamanan Avenue: Rs 2,960 per sq.ft (2024)
• Velankanni Nagar: Rs 1,320 per sq.ft (2024)
• Velayudham Nagar: Rs 1,320 per sq.ft (2024)
• Vaidegi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar S.No.539/1

For a 1,000 sq.ft plot at the current rate of Rs 880 per sq.ft, the guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, totaling Rs 79,200. 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 S.No.539/1?

The Sub Registrar Office covering Vasantham Nagar S.No.539/1 is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Varadarajapuram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the property's official valuation.

When a property is sold, the guideline value is used to determine the applicable taxes, which are based on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of Vasantham Nagar S.No.539/1?

The current guideline value of Vasantham Nagar S.No.539/1 is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Varadarajapuram?

The median guideline value in Varadarajapuram for 2024 is Rs 1,650 per sq.ft, which is higher than the current value of Vasantham Nagar S.No.539/1.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles registrations for Vasantham Nagar S.No.539/1?

The Padappai Sub Registrar Office handles registrations for Vasantham Nagar S.No.539/1, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.