Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 102 per sq.ft, effective from 1 July 2024. This area is located in Vinayaganaloore village and falls under the Madurandakam SRO. The land classification for this region is 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 the 2012 revision, the value was set at Rs 100 per sq.ft, which was then decreased to Rs 67 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 100 per sq.ft, followed by a further increase to Rs 102 per sq.ft in the 2024 revision, marking a 2% rise from the previous year.

From the 2012 revision to the 2024 revision, the overall change is a slight increase of 2%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vinayaganaloore

In Vinayaganaloore, there are 8 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 100 to Rs 150 per sq.ft, with a median value of Rs 102 per sq.ft. Vasantham Nagar's 2024 figure aligns with this median.

• Vee Birds Garden: Rs 101 per sq.ft (2024)
• Sri Guberan Nagar: Rs 101 per sq.ft (2024)
• Sri Gubera Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 101 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 102 per sq.ft (2024)
• Saranalaya Nagar Phase-I: Rs 150 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 102 per sq.ft, the total guideline value amounts to Rs 1,02,000. The stamp duty at 7% would be Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total cost for these fees to Rs 9,180. It is important to note that the 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?

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. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the property registration process in Vinayaganaloore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the costs involved in the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then up to Rs 100 per sq.ft in 2023, and finally to Rs 102 per sq.ft in 2024.

What is the land classification for Vasantham Nagar?

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

Where can I find the registration office for Vasantham Nagar?

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

How is the stamp duty calculated for properties in Vasantham Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 1,02,000, the stamp duty at 7% would be Rs 7,140.