Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under Govindarajkuppam village and is classified as Residential Class I Type - I. The relevant Sub Registrar Office for this locality is the Oothukkottai SRO.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 60 per sq.ft. This increased to Rs 40 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 100 per sq.ft, which is a 150% increase. The current value remains the same at Rs 100 per sq.ft from the 2023 revision to the 2024 revision.

Overall, from 2012 to 2024, the guideline value has increased by 67%. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Govindarajkuppam

In addition to Vasantham Nagar, other streets in Govindarajkuppam also have established guideline values. The current guideline value for Vasantham Nagar is the same as that of Jayasudha Nagar, which is Rs 100 per sq.ft as of 2024.

• Jayasudha 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 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Vasantham Nagar?

The Sub Registrar Office that covers Vasantham Nagar is the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Govindarajkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2012 to Rs 100 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and significant increases thereafter.

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

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

Where is the Oothukkottai Sub Registrar Office located?

The Oothukkottai Sub Registrar Office is located near the government hospital in Uthukottai, 602026, Chennai registration zone.

What is the land classification for Vasantham Nagar?

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