Guideline Value for Vasan Nagar

Vasan Nagar guideline value

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

How the guideline value of Vasan Nagar has changed

Over the years, the guideline value for Vasan Nagar has seen several revisions. The earliest recorded revision was in 2017, where the guideline value was Rs 268 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 400 per sq.ft. The most recent revision in 2024 maintained the same value of Rs 400 per sq.ft, indicating a 0% change from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 49%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2017 revision marked a significant increase of 49% from the previous value, leading to the current guideline value.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 6,200 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, which is the same as the current value for Vasan Nagar.

• Urban Edge Phase - III: Rs 2,200 per sq.ft (2024)
• Urban Edge Phase-II: Rs 2,200 per sq.ft (2024)
• Venkateswara Nagar: Rs 1,320 per sq.ft (2024)
• Venkateswara Nagar - II: Rs 300 per sq.ft (2024)
• VGP Industrial Form: Rs 700 per sq.ft (2024)
• VGP Queens Town: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vasan 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 to Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mevaloorkuppam B. 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 buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. 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 remained at Rs 400 per sq.ft from 2023 to 2024. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, marking a 49% increase overall from 2017 to 2024.

What is the land classification of Vasan Nagar?

Vasan Nagar is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Which Sub Registrar Office is responsible for Vasan Nagar?

The Sriperumpudur Sub Registrar Office is responsible for Vasan Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.