Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 60 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a 900% rise. However, from 2012 to 2017, there was a decline of 33%, bringing the value down to Rs 402 per sq.ft. The 2023 revision maintained the value at Rs 600 per sq.ft, and this figure remained unchanged in the 2024 revision, reflecting a 0% change.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 900%.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 500 to Rs 1,600 per sq.ft, with the median being Rs 600 per sq.ft. Vasantham Nagar's 2024 figure aligns with this median.

• Veenus Colony Phase -III: Rs 600 per sq.ft (2024)
• Vaiguntha Nagar: Rs 600 per sq.ft (2024)
• Thirumal Puram: Rs 600 per sq.ft (2024)
• Swami Nagar: Rs 600 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 600 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. 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?

The Sub Registrar Office that covers Vasantham Nagar is the Chengleput Joint II 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 Kolathur

The guideline value plays a crucial role during the registration process when buying or selling property in Kolathur. It serves as the basis for calculating the stamp duty and registration fees that must be paid to the government.

When a property is sold, the buyer needs to pay these fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 600 per sq.ft, unchanged from 2023. The value has increased significantly from Rs 60 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, with fluctuations in between.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with a guideline value of Rs 600 per sq.ft in 2024 include Veenus Colony Phase -III, Vaiguntha Nagar, Thirumal Puram, Swami Nagar, and Sri Srinivasa Avenue.

What fees are associated with buying property in Vasantham Nagar?

When buying property in Vasantham Nagar, buyers must pay stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 54,000.

Where can I find the Sub Registrar Office for Vasantham Nagar?

The Sub Registrar Office for Vasantham Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the provided link.