Guideline Value for Vasantha Press Road

Vasantha Press Road guideline value

The current guideline value of Vasantha Press Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Urur village under the Adayar SRO, classified as Residential Class IV Type - I.

How the guideline value of Vasantha Press Road has changed

The guideline value for Vasantha Press Road has seen several revisions over the years. In 2002, the guideline value was Rs 411 per sq.ft, which increased to Rs 487 per sq.ft in 2003. Following this, there was a significant increase to Rs 2,500 per sq.ft in 2007, and then it rose to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017, before rising again to Rs 5,000 per sq.ft in 2023, and finally reaching Rs 5,500 per sq.ft in 2024.

The changes between the revisions indicate fluctuations in the guideline value. From 2002 to 2024, the overall increase is 1,238%. Notably, the jump from 2017 to 2023 was 49%, and from 2023 to 2024, there was a 10% increase.

Guideline values in Urur

In Urur village, there are 176 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, making the guideline value of Vasantha Press Road below this median.

• Vasantha Press South Lane: Rs 5,500 per sq.ft (2024)
• Vannan Thurai Road: Rs 7,700 per sq.ft (2024)
• Urur Kuppam Slum: Rs 4,400 per sq.ft (2024)
• Urur Kuppam Road: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 1st street: Rs 5,500 per sq.ft (2024)
• Venkateshwara Nagar 3rd street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha Press Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantha Press Road?

The Sub Registrar Office that covers Vasantha Press Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Urur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is referenced to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vasantha Press Road?

The current guideline value of Vasantha Press Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 411 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 1,238% over this period.

What is the land classification for Vasantha Press Road?

Vasantha Press Road is classified as Residential Class IV Type - I, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for Vasantha Press Road?

The Adayar Sub Registrar Office, which covers Vasantha Press Road, is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 4,95,000.