Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO and is classified as Residential Class II 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 2017 revision, the value was set at Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 established the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median value for these streets is Rs 550 per sq.ft, placing Vasantham Nagar's value at the median level.

• Varasithi Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Varalakshmi Nagar: Rs 550 per sq.ft (2024)
• Vedachalam Nagar: Rs 1,320 per sq.ft (2024)
• Vedammal Nagar: Rs 550 per sq.ft (2024)
• Vellalar Street: Rs 1,320 per sq.ft (2024)
• Venkadeswara Avenue: Rs 440 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Minjur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What are the other streets in Minjur with similar guideline values?

Other streets in Minjur with a guideline value of Rs 550 per sq.ft include Varasithi Vinayagar Nagar, Varalakshmi Nagar, and Vedammal Nagar. This indicates that Vasantham Nagar's value aligns with these streets.

Where is the Sub Registrar Office for Vasantham Nagar located?

The Sub Registrar Office for Vasantham Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles property registrations for the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000, leading to specific fees based on this amount.