Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Vasantham Nagar has changed

Over the years, the guideline value for Vasantham Nagar has seen several revisions. The 2007 revision set the value at Rs 250 per sq.ft, which increased significantly to Rs 2,100 per sq.ft in 2012, marking a change of +740%. However, from 2012 to 2017, the value decreased to Rs 1,407 per sq.ft, a drop of -33%. The next revision in 2023 raised the value to Rs 2,100 per sq.ft, and the most recent revision in 2024 further increased it to Rs 2,310 per sq.ft, reflecting a change of +10%.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +824%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is the same as the guideline value for Vasantham Nagar.

• Vasantham Avenue: Rs 2,310 per sq.ft (2024)
• Varun Avenue: Rs 2,310 per sq.ft (2024)
• Varadhan Street: Rs 2,310 per sq.ft (2024)
• Varadha Nagar: Rs 3,120 per sq.ft (2024)
• Varadarasan Street: Rs 2,310 per sq.ft (2024)
• Vanchinathan Theru: Rs 2,310 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 2,310 per sq.ft, the total guideline value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, totaling Rs 2,07,900. 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 more details.

Which Sub Registrar Office covers Vasantham Nagar?

The Sub Registrar Office that covers Vasantham Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly affects the financial obligations associated with the transaction. This ensures compliance with local regulations and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,310 per sq.ft in 2024, showing an overall increase of +824% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 1,61,700, and the registration fee is Rs 46,200, totaling Rs 2,07,900.

Which office handles registrations for Vasantham Nagar?

The Padappai Sub Registrar Office handles registrations for Vasantham Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification for Vasantham Nagar?

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