Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Kovilkuppam village under the Manavalanagar SRO and is classified as Residential Class II Type - II.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 350 per sq.ft, which later saw a decrease to Rs 234 per sq.ft in the 2017 revision. Following this, the value increased by 50% to Rs 350 per sq.ft in 2023 and has remained the same in the 2024 revision, reflecting no change from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 350 per sq.ft.

Guideline values in Kovilkuppam

Kovilkuppam village has a total of 68 streets under the Manavalanagar SRO that have a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, which aligns with the current value for Vasantham Nagar.

• Vasuki Nagar: Rs 300 per sq.ft (2024)
• Vaisali Nagar: Rs 300 per sq.ft (2024)
• Town Phase 2: Rs 300 per sq.ft (2024)
• Sv Nagar Extension: Rs 300 per sq.ft (2024)
• S V Nagar: Rs 350 per sq.ft (2024)
• Surya Town: Rs 300 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, charged at 7%, would be Rs 24,500, while the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also 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 Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilkuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations 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 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then increased back to Rs 350 per sq.ft in 2023 and has remained the same in 2024.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Class II Type - II, indicating its designation for residential purposes.

What are the stamp duty rates for property in Vasantham Nagar?

The stamp duty rate for property transactions in Vasantham Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vasantham Nagar located?

The Manavalanagar Sub Registrar Office is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.