Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 103 per sq.ft, effective from 1 July 2024. This area is located in Kiliyanagar village, under the Madurandakam Sub Registrar Office (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 seen several revisions over the years. In 2012, the value was Rs 70 per sq.ft, which decreased to Rs 47 per sq.ft in 2017. However, from 2017 to 2023, there was a significant increase of 113%, bringing the value up to Rs 100 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 103 per sq.ft, marking a 3% 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 47%.

Guideline values in Kiliyanagar

In Kiliyanagar, there are four streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 103 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Vasantham Nagar's 2024 figure above that median.

• Sun City: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar - II: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 100 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 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty, charged at 7%, would be Rs 7,210, while the registration fee at 2% would be Rs 2,060, leading to a total cost of Rs 9,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 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 Kiliyanagar

The guideline value is a crucial factor during the registration of property transactions in Kiliyanagar. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both buyers and sellers are aware of the minimum value at which the property can be registered.

When a property is sold, the guideline value helps determine the official valuation for taxation purposes. This ensures transparency and fairness in the registration process, as the guideline value reflects the government's assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 103 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 70 per sq.ft in 2012 to Rs 103 per sq.ft in 2024, reflecting an overall increase of 47% over this period.

What are the stamp duty and registration fees for property in Vasantham Nagar?

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210 and the registration fee would be Rs 2,060, totaling Rs 9,270.

Which Sub Registrar Office is responsible for Vasantham Nagar?

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

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.