Guideline Value for VASUMATHI NAGAR

Vasumathi Nagar guideline value

The current guideline value of Vasumathi Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is located in Pungathur village under the Tiruvallur Joint 1 SRO, classified as Residential Special Type - III.

How the guideline value of Vasumathi Nagar has changed

Looking at the revisions, the guideline value for Vasumathi Nagar was Rs 1,675 per sq.ft in 2017. It increased to Rs 2,000 per sq.ft in the 2023 revision and remained the same in the 2024 revision, showing an overall increase of 19% from the 2017 figure to the 2024 figure.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The value remained stable at Rs 2,000 per sq.ft from 2023 to 2024, indicating no change during that period.

Guideline values in Pungathur

In Pungathur village, there are 32 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value among these streets is Rs 1,485 per sq.ft, making Vasumathi Nagar's 2024 figure above that median.

• Vadavandai Vada Veedi: Rs 550 per sq.ft (2024)
• 1st Crossroad: Rs 1,099 per sq.ft (2024)
• 2nd Cross Street: Rs 550 per sq.ft (2024)
• 3rd cross Street: Rs 550 per sq.ft (2024)
• 3rd Street: Rs 550 per sq.ft (2024)
• Thendadaivada veedhi: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vasumathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasumathi Nagar?

The Sub Registrar Office that covers Vasumathi Nagar 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 Pungathur

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Pungathur, the guideline value will influence the stamp duty and registration fees, which are calculated based on this value.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Vasumathi Nagar?

The current guideline value of Vasumathi Nagar is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,000 per sq.ft in 2023 and 2024, reflecting a 19% increase overall.

What are the other streets in Pungathur and their guideline values?

Other streets in Pungathur include Vadavandai Vada Veedi at Rs 550 per sq.ft, 1st Crossroad at Rs 1,099 per sq.ft, and Thendadaivada veedhi at Rs 770 per sq.ft, among others.

What are the stamp duty and registration fees for property in Vasumathi Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 20,00,000, the total fees would amount to Rs 1,80,000.

Which office handles property registration for Vasumathi Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles property registration for Vasumathi Nagar, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.