Guideline Value for VASANTHAM NAGAR

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar, located in Neidavoyal village under the Ponneri SRO, is Rs 100 per sq.ft. This value is effective from the 2024 revision, which took effect on 1 July 2024. The land classification for this area is 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. The 2017 revision set the value at Rs 67 per sq.ft. This figure remained until the 2023 revision, which kept the value at Rs 100 per sq.ft. The 2024 revision also maintained the guideline value at Rs 100 per sq.ft, showing no change from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 49% as well. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Neidavoyal

In Neidavoyal, there are four streets under the Ponneri SRO that carry a 2024 guideline value of Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Vasantham Nagar's 2024 figure matches this median value.

• Lakshmi Narayana Nagar: Rs 100 per sq.ft (2024)
• Gayathri Nagar: Rs 100 per sq.ft (2024)
• Fees Avenue Phase -I: 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 fees 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.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neidavoyal. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives due 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 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in both 2023 and 2024, marking a 49% increase overall during this period.

What is the land classification for Vasantham Nagar?

The land classification for Vasantham Nagar is Residential Class II Type - I.

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

The Sub Registrar Office for Vasantham Nagar is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur total fees of Rs 9,000.