Guideline Value for Vasantham Gardens

Vasantham Gardens guideline value

The current guideline value of Vasantham Gardens is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Vadakal_C village under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Vasantham Gardens has changed

The guideline value for Vasantham Gardens has seen several revisions over the years. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 300 per sq.ft, which increased to Rs 400 per sq.ft in the 2024 revision, marking a change of +33%.

This increase reflects the current market conditions and the adjustments made by the authorities. The 2024 figure aligns with the median guideline value for the 61 streets in Vadakal_C, which ranges from Rs 150 to Rs 1,500 per sq.ft.

Guideline values in Vadakal_C

In Vadakal_C, the guideline values vary significantly across different streets. The 2024 guideline value for Vasantham Gardens is equal to the median of Rs 400 per sq.ft. Below are the guideline values for other streets in Vadakal_C:

• Vasantham Nagar: Rs 750 per sq.ft (2024)
• Vasantham Nature City (Sri Aurobindo Nagar): Rs 400 per sq.ft (2024)
• Velalar Street: Rs 300 per sq.ft (2024)
• Tristar City: Rs 150 per sq.ft (2024)
• V.G.P.Vinoth Town: Rs 200 per sq.ft (2024)
• V.G.P.Vinoth Town Part II: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, making the total fees together Rs 36,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Vasantham Gardens?

The Sub Registrar Office that covers Vasantham Gardens 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 Vadakal_C

The guideline value plays a crucial role in the registration process when buying or selling property in Vadakal_C. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the sale price or the guideline value, whichever is higher, 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 Vasantham Gardens?

The current guideline value of Vasantham Gardens is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vasantham Gardens was Rs 300 per sq.ft in 2023 and increased to Rs 400 per sq.ft in 2024, reflecting a +33% change. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Vasantham Gardens?

Vasantham Gardens is classified as Residential Class I Type - I. This classification is important for determining the appropriate guideline value and regulations for property transactions.

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

The Sub Registrar Office for Vasantham Gardens 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 Gardens?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000, leading to stamp duty and registration fees based on this amount.