Guideline Value

Corporate

Guideline Value for Vasantha Garden 1st Lane

₹1400/sq.ft.

The guideline value for Vasantha Garden 1st Lane in Chinna Sembaram Bakkam village (Sembiam SRO, Chennai zone) is Rs 1400 per sq.ft, effective 1 July 2024. It was Rs 1300 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Chinna Sembaram Bakkam

Village

Sembiam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1400 /sq.ft.
From 1-4-2023 ₹1300 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹871 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1300 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹600 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹375 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

5, Papermills Road, Sembiam, Chennai - 600011.
044-26702002
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vasantha Garden 1st Lane

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Vasantha Garden 1st Lane guideline value

The current guideline value of Vasantha Garden 1st Lane in Chinna Sembaram Bakkam village is Rs 1,400 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Sembiam Sub Registrar Office and is classified as Residential Class II Type - I.

How the guideline value of Vasantha Garden 1st Lane has changed

The guideline value for Vasantha Garden 1st Lane has seen several revisions over the years. In 2003, the guideline value was Rs 375 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a 60% rise. The value then surged significantly to Rs 1,300 per sq.ft in 2012, reflecting a 117% increase. However, it dropped to Rs 871 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 1,300 per sq.ft in 2023, before reaching the current rate of Rs 1,400 per sq.ft in 2024, an 8% increase.

There is no guideline value figure for Vasantha Garden 1st Lane in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 273%, showcasing significant fluctuations over the years.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft. The median value is Rs 1,400 per sq.ft, making Vasantha Garden 1st Lane's current rate equal to this median.

Stamp duty and registration fee for property in Vasantha Garden 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value is Rs 14,00,000. The stamp duty at 7% amounts to Rs 98,000, while the registration fee at 2% is Rs 28,000. Together, these fees total Rs 1,26,000. It is important to note that 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 Vasantha Garden 1st Lane?

The Sembiam Sub Registrar Office covers Vasantha Garden 1st Lane, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chinna Sembaram Bakkam. 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 guideline value is compared with the sale price, and the higher of the two 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 Vasantha Garden 1st Lane?

The current guideline value of Vasantha Garden 1st Lane is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 375 per sq.ft in 2003 and reaching Rs 1,400 per sq.ft in 2024, marking an overall increase of 273% over this period.

What is the land classification for Vasantha Garden 1st Lane?

Vasantha Garden 1st Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

Which office handles registrations for Vasantha Garden 1st Lane?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Vasantha Garden 1st Lane.

How is stamp duty calculated for properties in Chinna Sembaram Bakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 at a rate of 7%.