Guideline Value for Vasantha puram Nagar

Vasantha puram Nagar guideline value

The current guideline value of Vasantha puram Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Vasantha puram Nagar has changed

The guideline value for Vasantha puram Nagar has undergone several revisions over the years. In 2003, the value was Rs 36 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2007, marking a change of +1011%. The value then rose to Rs 1,400 per sq.ft in 2012, reflecting a substantial increase of +250%. However, it decreased to Rs 938 per sq.ft in 2017, a drop of -33%. The guideline value saw a notable increase to Rs 1,400 per sq.ft in 2023, and then further to Rs 1,550 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2003 to 2024, the guideline value has increased by +4206%. The register has no figure for the year 2002 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Vasantha puram Nagar is below this median.

• Vasanthapuram Pase I: Rs 1,550 per sq.ft (2024)
• Vasantham Nagar Phase II: Rs 1,550 per sq.ft (2024)
• Velayutham Nagar: Rs 2,000 per sq.ft (2024)
• Vethachalam Nagar: Rs 2,000 per sq.ft (2024)
• Vgn Highness: Rs 7,400 per sq.ft (2024)
• TheruVeethiyamman Koil Theru: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantha puram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total fees together to Rs 1,39,500. 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 further calculations.

Which Sub Registrar Office covers Vasantha puram Nagar?

The Sub Registrar Office that covers Vasantha puram Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Srinivasapuram. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is compared to 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.

Frequently asked questions

What is the current guideline value of Vasantha puram Nagar?

The current guideline value of Vasantha puram Nagar is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 36 per sq.ft in 2003 to Rs 1,550 per sq.ft in 2024, reflecting a significant increase of +4206% overall.

What is the registration office for Vasantha puram Nagar?

The registration office for Vasantha puram Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 15,50,000, the total fees would amount to Rs 1,39,500.

What are the other streets in Srinivasapuram with their guideline values?

Other streets in Srinivasapuram include Vasanthapuram Pase I and Vasantham Nagar Phase II, both at Rs 1,550 per sq.ft, along with Velayutham Nagar and Vethachalam Nagar at Rs 2,000 per sq.ft, and Vgn Highness at Rs 7,400 per sq.ft.