Guideline Value for VASANTHAPURAM

Vasanthapuram guideline value

The current guideline value of Vasanthapuram, located in Arasankalani village under the Selaiyur SRO, is Rs 2,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Vasanthapuram has changed

The guideline value for Vasanthapuram has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,100 per sq.ft in the 2024 revision, marking a 5% increase from the previous year.

From 2017 to 2023, the guideline value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 5%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value is Rs 2,100 per sq.ft, which is equal to the current value for Vasanthapuram.

• Vasanthapuram Extentsion: Rs 2,100 per sq.ft (2024)
• Vedanthagal Street: Rs 1,900 per sq.ft (2024)
• Vedanthangal Nagar: Rs 1,900 per sq.ft (2024)
• Vaibhavs Thullia: Rs 2,190 per sq.ft (2024)
• Thirupur Kumaran Street: Rs 1,300 per sq.ft (2024)
• Visalatchi Street: Rs 1,300 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 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would be Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, bringing the total to Rs 1,89,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Arasankalani

The guideline value is a critical factor during the registration of property transactions in Arasankalani. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When buying or selling property, the guideline value helps in determining the minimum sale price for registration purposes. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Vasanthapuram?

The current guideline value of Vasanthapuram is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,100 per sq.ft in 2024.

What is the land classification for Vasanthapuram?

Vasanthapuram is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Vasanthapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000, leading to a stamp duty of Rs 1,47,000.