Guideline Value for Vasantham Gardens

Vasantham Gardens guideline value

The current guideline value of Vasantham Gardens is Rs 181 per sq.ft, effective from 1 July 2024. This area is located in Mettupalayam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Vasantham Gardens has changed

Over the years, the guideline value of Vasantham Gardens has seen several revisions. The 2012 revision set the value at Rs 180 per sq.ft, which was followed by a decrease to Rs 121 per sq.ft in the 2017 revision. However, this figure saw a significant increase of 50% to Rs 181 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

It is important to note that the register has no figures for this street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 1%.

Guideline values in Mettupalayam

In Mettupalayam, there are 45 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 900 per sq.ft. The median value is Rs 181 per sq.ft, which is the same as the current value for Vasantham Gardens.

• Vaithegi Nagar: Rs 200 per sq.ft (2024)
• Vaishnavi Nagar: Rs 200 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• V.G.P Vinoth Town: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Gardens

For a 1,000 sq.ft plot at the current rate of Rs 181 per sq.ft, the guideline value amounts to Rs 1,81,000. The stamp duty at 7% would be Rs 12,670, and the registration fee at 2% would be Rs 3,620, totaling Rs 16,290. 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 further calculations.

Which Sub Registrar Office covers Vasantham Gardens?

The Sub Registrar Office that covers Vasantham Gardens is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Mettupalayam. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to understand that the guideline value is set by the government and reflects the minimum value at which properties can be registered. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Gardens?

The current guideline value of Vasantham Gardens is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017, then increased to Rs 181 per sq.ft in 2023 and remained the same in 2024.

What is the land classification for Vasantham Gardens?

Vasantham Gardens is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Vasantham Gardens is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value incurs a total stamp duty and registration fee of Rs 16,290.