Guideline Value

Corporate

Guideline Value for Vasantham Nagar Phase II

₹1550/sq.ft.

The guideline value for Vasantham Nagar Phase Ii in Srinivasapuram village (Kunrathur SRO, Chennai zone) is Rs 1550 per sq.ft, effective 1 July 2024. It was Rs 1400 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Srinivasapuram

Village

Kunrathur

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1550 /sq.ft.
From 1-4-2023 ₹1400 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹938 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1400 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.59. Road Street, Kundrathur, Chennai -600 069.
044-24780515
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Vasantham Nagar Phase Ii

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Vasantham Nagar Phase II guideline value

The current guideline value of Vasantham Nagar Phase II is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Vasantham Nagar Phase II has changed

The guideline value for Vasantham Nagar Phase II has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 400 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012. However, it decreased to Rs 938 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,400 per sq.ft in 2023, followed by a further increase to Rs 1,550 per sq.ft in 2024, reflecting an overall increase of 288% from 2007 to 2024.

From 2023 to 2024, the guideline value increased by 11%. The increase from 2017 to 2023 was 49%, while the change from 2012 to 2017 was a decrease of 33%. The significant rise from 2007 to 2012 was 250%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vasantham Nagar Phase II's 2024 figure below that median.

Stamp duty and registration fee for property in Vasantham Nagar Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value amounts to Rs 15,50,000. The stamp duty at 7% would be Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, totaling Rs 1,39,500. Please 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 Nagar Phase II?

The Sub Registrar Office that covers Vasantham Nagar Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Srinivasapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar Phase II?

The current guideline value of Vasantham Nagar Phase II is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,550 per sq.ft in 2024, reflecting an overall increase of 288% over the years.

What is the registration office for Vasantham Nagar Phase II?

The registration office for Vasantham Nagar Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Vasantham Nagar Phase II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 15,50,000, the stamp duty would be Rs 1,08,500 at 7%.

What are the other streets in Srinivasapuram with guideline values?

Other streets in Srinivasapuram include Vasantha puram Nagar and Vasanthapuram Pase I, both at Rs 1,550 per sq.ft, along with Velayutham Nagar and Vethachalam Nagar at Rs 2,000 per sq.ft, and Vgn Highness at Rs 7,400 per sq.ft.