Guideline Value for VATSALA CITY

Vatsala City guideline value

The current guideline value of Vatsala City, located in Korukanthangal village under the Gooduvancheri SRO, is Rs 500 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - I land classification.

How the guideline value of Vatsala City has changed

The guideline value for Vatsala City has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft. The subsequent revision in 2023 brought the value back to Rs 500 per sq.ft, and this figure has been maintained in the 2024 revision as well, showing no change from the previous year.

Overall, from 2012 to 2024, the guideline value has remained steady at Rs 500 per sq.ft. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Korukanthangal

In Korukanthangal, there are 25 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 500 per sq.ft, with a median of Rs 500 per sq.ft. Vatsala City's 2024 figure is equal to this median.

• Vatsala City Extn: Rs 500 per sq.ft (2024)
• Venkateswara Nagar: Rs 500 per sq.ft (2024)
• Subramaniya Nagar: Rs 500 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Sri Gayathri Dr.City Phase-II & V: Rs 500 per sq.ft (2024)
• Sri Gayathri Co-op Mega Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Vatsala City

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, leading to a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vatsala City?

The Vatsala City area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korukanthangal. It determines the amount of stamp duty and registration fees that need to be paid, ensuring that the transaction is documented accurately under the law.

When a property is sold, the guideline value serves as a benchmark for calculating the financial obligations of both the buyer and seller. This value is essential for maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vatsala City?

The current guideline value of Vatsala City is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in the revisions of 2012, 2023, and 2024. It decreased to Rs 335 per sq.ft in 2017, showing a 49% increase from 2017 to 2023.

What are the stamp duty and registration fees for property in Vatsala City?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,00,000. The stamp duty at 7% is Rs 35,000, and the registration fee at 2% is Rs 10,000, totaling Rs 45,000.

Which office handles registrations for Vatsala City?

The Gooduvancheri Sub Registrar Office handles registrations for Vatsala City, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that all financial obligations are met and that the transaction is legally documented.