Guideline Value for Vasantham Colony

Vasantham Colony guideline value

The current guideline value of Vasantham Colony is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Nemili_B village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Vasantham Colony has changed

The guideline value for Vasantham Colony has undergone several revisions over the years. The register shows no figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 500 per sq.ft, which was then reduced to Rs 200 per sq.ft in the 2024 revision, marking a decrease of 60%.

In summary, the guideline value for Vasantham Colony was Rs 500 per sq.ft in 2023 and has been revised to Rs 200 per sq.ft in 2024. This change reflects a significant adjustment in the valuation of properties in this area.

Guideline values in Nemili_B

Nemili_B village has 97 streets under the Sriperumpudur SRO carrying a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Vasantham Colony is below this median.

• Va.Voo.Si Street: Rs 200 per sq.ft (2024)
• Venkatachalam Nagar: Rs 250 per sq.ft (2024)
• Venkatachalam Nagar Extn: Rs 250 per sq.ft (2024)
• Venkateswara Nagar: Rs 250 per sq.ft (2024)
• Venkateswara nagar extn: Rs 250 per sq.ft (2024)
• V.G.P. Chakra Town - I: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vasantham Colony?

The Sub Registrar Office that covers Vasantham Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Nemili_B. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is crucial for calculating the applicable stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Vasantham Colony?

The current guideline value of Vasantham Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value changed from Rs 500 per sq.ft in 2023 to Rs 200 per sq.ft in 2024, marking a decrease of 60%.

What is the land classification of Vasantham Colony?

Vasantham Colony is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Vasantham Colony?

The Sub Registrar Office for Vasantham Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vasantham Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000.