Guideline Value for Vasantha Garden 4th Street

Vasantha Garden 4th Street guideline value

The current guideline value for Vasantha Garden 4th Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vasantha Garden 4th Street has changed

The guideline value for Vasantha Garden 4th Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision at Rs 600 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in the 2012 revision, marking a 117% rise. However, this value saw a decrease to Rs 871 per sq.ft in the 2017 revision, a drop of 33%. The value then rose sharply to Rs 1,300 per sq.ft in the 2023 revision, an increase of 49%. Most recently, the 2024 revision set the guideline value at Rs 1,400 per sq.ft, reflecting an 8% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 133%.

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 guideline value for these streets is Rs 1,400 per sq.ft, which is equal to the 2024 figure for Vasantha Garden 4th Street.

• Vasantha Garden 3rd Street: Rs 1,400 per sq.ft (2024)
• Vasantha Garden Main Road: Rs 1,600 per sq.ft (2024)
• Vasantha Garden 2nd Street: Rs 1,400 per sq.ft (2024)
• Vasantha Garden 2nd Lane: Rs 1,400 per sq.ft (2024)
• Vasantha Garden 1st Street: Rs 1,400 per sq.ft (2024)
• Vasantha Garden 1st Lane: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha Garden 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total fees to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantha Garden 4th Street?

The Sub Registrar Office that covers Vasantha Garden 4th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is crucial during the registration of property transactions in Chinna Sembaram Bakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the registration process. Buyers and sellers should always refer to the latest guideline values to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Vasantha Garden 4th Street?

The current guideline value of Vasantha Garden 4th Street 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 from Rs 600 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 133% over the years.

What are the stamp duty and registration fees for property in Vasantha Garden 4th Street?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which office handles registrations for Vasantha Garden 4th Street?

The Sembiam Sub Registrar Office handles registrations for Vasantha Garden 4th Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Vasantha Garden 4th Street?

The land classification for Vasantha Garden 4th Street is Residential Class II Type - I.