Guideline Value for Vasantham Nagar 2nd cross Street

Vasantham Nagar 2nd cross Street guideline value

The current guideline value of Vasantham Nagar 2nd cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Vasantham Nagar 2nd cross Street has changed

Over the years, the guideline value of Vasantham Nagar 2nd cross Street has seen significant changes. The earliest recorded figure in the register is from 2003, which was Rs 152 per sq.ft. This increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 295%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 400%. However, it dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, and finally reached Rs 3,300 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

There is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 2071%, illustrating the significant changes in property valuation over the years.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the current guideline value for Vasantham Nagar 2nd cross Street.

• Vasantham Nagar: Rs 3,300 per sq.ft (2024)
• Vathiyar Manickam Street: Rs 3,520 per sq.ft (2024)
• Varadhan Nagar: Rs 3,850 per sq.ft (2024)
• Vanniyar Street: Rs 3,520 per sq.ft (2024)
• Valluvar High Road: Rs 3,520 per sq.ft (2024)
• Valluvar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar 2nd cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Nagar 2nd cross Street?

The Sub Registrar Office that covers Vasantham Nagar 2nd cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Vasantham Nagar 2nd cross Street?

The current guideline value of Vasantham Nagar 2nd cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 152 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 2071% from 2003 to 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Vasantham Nagar 2nd cross Street?

The Pallavaram Sub Registrar Office handles registrations for Vasantham Nagar 2nd cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Vasantham Nagar 2nd cross Street?

The land classification for Vasantham Nagar 2nd cross Street is Residential Class I Type - II.