Guideline Value for Vasan Nagar

Vasan Nagar guideline value

The current guideline value of Vasan Nagar, located in Mevaloorkuppam village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Vasan Nagar has changed

The guideline value for Vasan Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% increase. However, in 2017, the value decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose significantly to Rs 400 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2007 to 2024 shows a 100% increase, with the current value of Rs 400 per sq.ft reflecting stability in the recent revisions. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,400 per sq.ft. The median value is Rs 400 per sq.ft, which is equal to the current guideline value of Vasan Nagar.

• Venkateswara Nagar: Rs 300 per sq.ft (2024)
• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• Thiruvalluvar Street: Rs 300 per sq.ft (2024)
• Vinayagar Koil Street: Rs 300 per sq.ft (2024)
• Sun Tech Co-op City: Rs 900 per sq.ft (2024)
• Subasree Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that 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 information.

Which Sub Registrar Office covers Vasan Nagar?

The Sub Registrar Office that covers Vasan Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mevaloorkuppam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Vasan Nagar?

The current guideline value of Vasan 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 changed several times, with the most recent revisions showing a stable value of Rs 400 per sq.ft since 2023. The value increased from Rs 200 in 2007 to Rs 400 in 2012, then decreased to Rs 268 in 2017 before returning to Rs 400 in the latest revisions.

What are the guideline values for other streets in Mevaloorkuppam?

Other streets in Mevaloorkuppam have varying guideline values. For instance, Venkateswara Nagar, Venkateswara Nagar - II, Thiruvalluvar Street, Vinayagar Koil Street, and Subasree Nagar all have a guideline value of Rs 300 per sq.ft, while Sun Tech Co-op City has a higher value of Rs 900 per sq.ft.

How is the stamp duty calculated for properties in Vasan Nagar?

Stamp duty for properties in Vasan Nagar is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft would incur a stamp duty of Rs 28,000.

Where can I find the Sub Registrar Office for Vasan Nagar?

The Sub Registrar Office for Vasan Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the appropriate link.