Guideline Value for VASISTAR NAGAR / ANNEX

Vasistar Nagar / Annex guideline value

The current guideline value for Vasistar Nagar / Annex is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Venmanamputhur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vasistar Nagar / Annex has changed

The guideline value for Vasistar Nagar / Annex has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 250 per sq.ft in 2023, reflecting a 50% rise from the 2017 figure. The 2024 revision has maintained this value at Rs 250 per sq.ft, showing no change from the previous year.

The register has no figure for this street for the years 2002, 2003, and 2007. Therefore, the most recent figures available are from 2012, 2017, 2023, and 2024.

Guideline values in Venmanamputhur

In Venmanamputhur, there are 54 streets under the Tiruvallur Joint 1 SRO that have a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Vasistar Nagar / Annex is above this median.

• Vedanta Nagar: Rs 300 per sq.ft (2024)
• Udayam Nagar: Rs 200 per sq.ft (2024)
• Udaya Deepam Nagar: Rs 200 per sq.ft (2024)
• Venus Colony: Rs 200 per sq.ft (2024)
• Venus Nagar: Rs 200 per sq.ft (2024)
• T.N.E.B. Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vasistar Nagar / Annex

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasistar Nagar / Annex?

The Sub Registrar Office that covers Vasistar Nagar / Annex is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Venmanamputhur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is registered at a fair value. This helps in maintaining transparency and accountability in property transactions within the region.

Frequently asked questions

What is the current guideline value for Vasistar Nagar / Annex?

The current guideline value for Vasistar Nagar / Annex is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Vasistar Nagar / Annex?

Vasistar Nagar / Annex is classified as Residential Class II Type - I.

What are the stamp duty rates applicable in this area?

The stamp duty rate is 7% on the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for this area?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.