Guideline Value for Vasantham Garden Phase- III

Vasantham Garden Phase- III guideline value

The current guideline value of Vasantham Garden Phase- III is Rs 1,600 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vasantham Garden Phase- III has changed

The guideline value for Vasantham Garden Phase- III has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 1,005 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,600 per sq.ft, marking a significant change of +59% from the 2017 figure. Notably, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions that show a figure are from 2017 to 2024. The 2024 guideline value of Rs 1,600 per sq.ft aligns with the median guideline value for Madhavaram, which ranges from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value. The median for these streets is Rs 1,600 per sq.ft, which is the same as the current guideline value for Vasantham Garden Phase- III. Below are the guideline values for other streets in Madhavaram:

• Vasantham Nagar: Rs 1,300 per sq.ft (2024)
• Vasantham Avenue (Ward-09): Rs 1,600 per sq.ft (2024)
• Vasantham Avenue: Rs 1,600 per sq.ft (2024)
• Vasantha Colony (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Vasantham Nagar Main Roads ( Ward No.3 ): Rs 1,300 per sq.ft (2024)
• Vasantham Nagar Phase- III: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Garden Phase- III

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total costs together to Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further assistance, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Garden Phase- III?

The Sub Registrar Office that covers Vasantham Garden Phase- III is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value will be used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vasantham Garden Phase- III?

The current guideline value of Vasantham Garden Phase- III is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,600 per sq.ft, which is a change of +59%.

Are there any years with no recorded guideline value for this street?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for Vasantham Garden Phase- III.

What is the median guideline value for streets in Madhavaram?

The median guideline value for streets in Madhavaram is Rs 1,600 per sq.ft, which is the same as the current guideline value for Vasantham Garden Phase- III.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.