Guideline Value for Vasantham Colony

Vasantham Colony guideline value

The current guideline value of Vasantham Colony is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Sriperumbudur A village and falls under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Vasantham Colony has changed

In the 2017 revision, the guideline value was Rs 469 per sq.ft. This figure remained unchanged in the 2023 revision, where it was also Rs 700 per sq.ft. The 2024 revision again holds the guideline value at Rs 700 per sq.ft, indicating no change from the previous year. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value saw an increase of 49%. Overall, from 2017 to 2024, the increase remains at 49%, as the value has not changed in the subsequent revisions.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 700 per sq.ft, which is equal to the guideline value of Vasantham Colony.

• Vanniyar Street: Rs 1,200 per sq.ft (2024)
• Vasuki Nagar: Rs 700 per sq.ft (2024)
• Veerasamy Pillai Street: Rs 700 per sq.ft (2024)
• Velankanni Nagar: Rs 700 per sq.ft (2024)
• Vada Pushkarani Street: Rs 700 per sq.ft (2024)
• True value Homes: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total charges Rs 63,000. 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 details.

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 Sriperumbudur A

The guideline value is used to determine the minimum value of a property for registration purposes. When buying or selling property, this value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

It is crucial for buyers and sellers to be aware of the guideline value as it directly affects the financial aspects of property transactions in Sriperumbudur A.

Frequently asked questions

What is the current guideline value of Vasantham Colony?

The current guideline value of Vasantham Colony is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023 and 2024, showing a 49% increase from 2017 to 2024.

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 based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.