Guideline Value for VASATHI NAGAR

Vasathi Nagar guideline value

The current guideline value of Vasathi Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Kizhnallathur & Melnallathur village under the Manavalanagar SRO, classified as Residential Class II Type - II.

How the guideline value of Vasathi Nagar has changed

The guideline value for Vasathi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. However, the value increased significantly in the 2023 revision, returning to Rs 200 per sq.ft, a 49% increase from 2017. The current value of Rs 200 per sq.ft has been maintained in the latest 2024 revision, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Kizhnallathur & Melnallathur

In Kizhnallathur & Melnallathur, there are 67 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 1,201 per sq.ft, with a median value of Rs 250 per sq.ft. Vasathi Nagar's guideline value is below this median.

• Vaishnavi Nagar: Rs 250 per sq.ft (2024)
• Vetri Nagar: Rs 300 per sq.ft (2024)
• Vidhya Nagar: Rs 250 per sq.ft (2024)
• Vigneswara Nagar: Rs 226 per sq.ft (2024)
• Winwilla Nagar: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasathi Nagar?

The Sub Registrar Office that covers Vasathi Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kizhnallathur & Melnallathur

The guideline value is a crucial factor when registering property transactions in Kizhnallathur & Melnallathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is documented at a recognized value.

When buying or selling property, the guideline value helps in determining the minimum value at which the property can be registered. This ensures transparency and compliance with legal requirements during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vasathi Nagar?

The current guideline value of Vasathi Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Vasathi Nagar has seen various changes, with the most recent being Rs 200 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017, down from Rs 200 per sq.ft in 2012.

What are the guideline values of other streets in Kizhnallathur & Melnallathur?

Other streets in Kizhnallathur & Melnallathur have varying guideline values, with rates ranging from Rs 175 to Rs 1,201 per sq.ft. The median value for these streets is Rs 250 per sq.ft.

What fees are associated with property registration in Vasathi Nagar?

When registering property in Vasathi Nagar, the stamp duty is calculated at 7% of the guideline value, while the registration fee is charged at 2%. Together, these fees can significantly add to the overall cost of property registration.

Where is the Sub Registrar Office for Vasathi Nagar located?

The Sub Registrar Office for Vasathi Nagar is the Manavalanagar Sub Registrar Office, situated at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.