Guideline Value for Vasantha Nagar

Vasantha Nagar guideline value

The current guideline value of Vasantha Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 600 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Vasantha Nagar has changed

Over the years, the guideline value for Vasantha Nagar has experienced several revisions. The earliest recorded figure is from 2007, which was Rs 160 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 275%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, reflecting a decline of 33%. The most recent revisions show that the value was Rs 600 per sq.ft in both 2023 and 2024, indicating no change between these two years.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 275%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Atanancheri

Atanancheri village has a total of 83 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which means that the guideline value for Vasantha Nagar is below this median.

• Varunesh Nagar: Rs 800 per sq.ft (2024)
• Vedhadri Maharishi Nagar: Rs 600 per sq.ft (2024)
• United Avenue: Rs 1,050 per sq.ft (2024)
• Thomas Nagar: Rs 500 per sq.ft (2024)
• Vigneshwara Nagar: Rs 600 per sq.ft (2024)
• Vimal Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasantha Nagar?

The Sub Registrar Office that covers Vasantha Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Atanancheri. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the registration process. This value is set by the government and is updated periodically based on various factors.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any unexpected fees during the registration process.

Frequently asked questions

What is the current guideline value of Vasantha Nagar?

The current guideline value of Vasantha Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreased to Rs 402 per sq.ft in 2017, and remained at Rs 600 per sq.ft in both 2023 and 2024.

What is the median guideline value for streets in Atanancheri?

The median guideline value for streets in Atanancheri is Rs 700 per sq.ft, which is above the current guideline value of Vasantha Nagar.

What are the stamp duty and registration fees for property in Vasantha Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 54,000, which includes Rs 42,000 for stamp duty and Rs 12,000 for registration fees.

Which office should I contact for property registration in Vasantha Nagar?

The Gooduvancheri Sub Registrar Office is responsible for property registration in Vasantha Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone.