Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value for Vasantham Nagar in Iyyappanthangal village is Rs 1,650 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV 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 the 2007 revision, the value was Rs 341 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in the 2017 revision before rising to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 1,650 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. The most recent change from 2023 to 2024 reflects an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 384%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Vasantham Nagar's 2024 figure below that median.

• Vasantham Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• Vasantham Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Vanniyar Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Ist Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street Cross Street: Rs 2,200 per sq.ft (2024)
• Vaaniar Mettu Street 3rd Street: Rs 2,200 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasantham Nagar?

The Sub Registrar Office that covers Vasantham Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Iyyappanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher amount is used to calculate the applicable stamp duty and registration fees, thereby influencing the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 384% over the years.

What is the median guideline value in Iyyappanthangal?

The median guideline value for streets in Iyyappanthangal is Rs 2,200 per sq.ft, with Vasantham Nagar's 2024 figure being below this median.

What fees are associated with property registration in Vasantham Nagar?

The fees associated with property registration include a stamp duty of 7% and a registration fee of 2% based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Vasantham Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.