Guideline Value for Vanchinathan Nagar

Vanchinathan Nagar guideline value

The current guideline value of Vanchinathan Nagar, located in Puthupakkam village under the Chengleput Joint I SRO, is Rs 400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vanchinathan Nagar has changed

Over the years, the guideline value for Vanchinathan Nagar has seen several revisions. The earliest available figure is from 2012, which was Rs 400 per sq.ft. In 2017, the guideline value decreased to Rs 268 per sq.ft, reflecting a change of -33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 400 per sq.ft. The 2023 revision maintained this rate, and the current 2024 revision also stands at Rs 400 per sq.ft, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 400 per sq.ft.

Guideline values in Puthupakkam

In Puthupakkam, there are seven streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, making Vanchinathan Nagar's 2024 figure equal to this median.

• Sree Krishna Nagar Phase-IV: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-III: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase-II: Rs 400 per sq.ft (2024)
• Sree Krishna Nagar Phase 1: Rs 400 per sq.ft (2024)
• Sai Nagar Phase - I: Rs 500 per sq.ft (2024)
• Nethaji Nagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Vanchinathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total charges to Rs 36,000. It is essential to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanchinathan Nagar?

The Sub Registrar Office that covers Vanchinathan Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Puthupakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Puthupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps to establish the minimum value at which the property can be registered. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Vanchinathan Nagar?

The current guideline value of Vanchinathan Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, followed by an increase to Rs 400 per sq.ft in 2023 and 2024. There are no figures available for the years 2002, 2003, and 2007.

What are the stamp duty and registration fees for properties in Vanchinathan Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000, and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Vanchinathan Nagar?

The Chengleput Joint I Sub Registrar Office handles property registrations in Vanchinathan Nagar. It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

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

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, which is essential for maintaining transparency in real estate dealings.