Guideline Value for VASANTHAPURAM

Vasanthapuram guideline value

The current guideline value of Vasanthapuram, located in Kayirambedu village under the Chengleput Joint II SRO, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - II.

How the guideline value of Vasanthapuram has changed

The guideline value for Vasanthapuram has seen several revisions over the years. In 2007, the guideline value was Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 367%. However, from 2012 to 2017, there was a decrease of 33%, bringing the value down to Rs 469 per sq.ft. The value then increased again to Rs 700 per sq.ft in 2023 and has remained the same through to the 2024 revision, showing no change from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 367%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kayirambedu

In Kayirambedu village, there are 120 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 400 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is the same as the current guideline value for Vasanthapuram.

• Venkat Avenue: Rs 2,389 per sq.ft (2024)
• Vaishnavi Nagar: Rs 700 per sq.ft (2024)
• Vaishnavi Avenue: Rs 700 per sq.ft (2024)
• Venus Nagar: Rs 500 per sq.ft (2024)
• Vijay Avenue: Rs 700 per sq.ft (2024)
• Vinayaka Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 further calculations.

Which Sub Registrar Office covers Vasanthapuram?

The Sub Registrar Office that covers Vasanthapuram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kayirambedu. It is used to determine the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official assessment of the property. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Vasanthapuram?

The current guideline value of Vasanthapuram is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft since 2023.

What are the guideline values of other streets in Kayirambedu?

Other streets in Kayirambedu have varying guideline values, with Venkat Avenue at Rs 2,389 per sq.ft, while several streets like Vaishnavi Nagar, Vijay Avenue, and Vinayaka Nagar have values at Rs 700 per sq.ft.

What fees are associated with buying property in Vasanthapuram?

When buying property in Vasanthapuram, the fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 63,000.

Where can I find the Sub Registrar Office for Vasanthapuram?

The Sub Registrar Office for Vasanthapuram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information through the provided link.