Guideline Value for Vasantha Press South Lane

Vasantha Press South Lane guideline value

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

How the guideline value of Vasantha Press South Lane has changed

The guideline value for Vasantha Press South Lane has seen several revisions over the years. In 2007, the value was Rs 2,500 per sq.ft, which increased to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose significantly to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision. The changes between these revisions include a 100% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024.

There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Urur

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

• Vasantha Press Road: 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 Nagar1st 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 South Lane

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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasantha Press South Lane?

The Sub Registrar Office that covers Vasantha Press South Lane 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 is a crucial factor when buying or selling property in Urur, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the costs involved in the property transfer.

When a property is sold, the guideline value is used to assess the stamp duty, which is charged at a percentage of the higher value between the guideline value and the actual sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantha Press South Lane?

The current guideline value of Vasantha Press South Lane 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 2,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the land classification for Vasantha Press South Lane?

Vasantha Press South Lane is classified as Residential Class IV Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Vasantha Press South Lane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at a rate of 7%.