Guideline Value for Vasantham Nagar Surver No.388/1Pt,2

Vasantham Nagar Surver No.388/1Pt,2 guideline value

The current guideline value for Vasantham Nagar Surver No.388/1Pt,2 is Rs 1,200 per sq.ft, effective from 1 July 2024. This property is located in Kovilpathagai village, under the jurisdiction of the Ambattur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Vasantham Nagar Surver No.388/1Pt,2 has changed

Over the years, the guideline value for Vasantham Nagar Surver No.388/1Pt,2 has seen significant changes. In the 2017 revision, the guideline value was Rs 737 per sq.ft. This increased to Rs 1,100 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,200 per sq.ft, reflecting a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 63%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kovilpathagai

Kovilpathagai has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft as per the 2024 revision. The median guideline value in this village is Rs 870 per sq.ft, placing Vasantham Nagar Surver No.388/1Pt,2 above the median value for the area.

• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vasantham Nagar: Rs 807 per sq.ft (2024)
• Varatharajan Street: Rs 805 per sq.ft (2024)
• Vanniyar Street: Rs 805 per sq.ft (2024)
• Vanna Tank: Rs 806 per sq.ft (2024)
• Vannan Street: Rs 806 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar Surver No.388/1Pt,2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total cost for these fees to Rs 1,08,000. 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 Surver No.388/1Pt,2?

The Sub Registrar Office that covers Vasantham Nagar Surver No.388/1Pt,2 is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kovilpathagai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the overall cost of the transaction. This value is periodically revised, and staying informed about these changes can help in making better financial decisions during property transactions.

Frequently asked questions

What is the current guideline value for Vasantham Nagar Surver No.388/1Pt,2?

The current guideline value for Vasantham Nagar Surver No.388/1Pt,2 is Rs 1,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 737 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2024, which is an overall increase of 63% over the seven-year period.

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

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, making a total of Rs 1,08,000 for these fees.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Vasantham Nagar Surver No.388/1Pt,2, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Vasantham Nagar Surver No.388/1Pt,2?

The land classification for Vasantham Nagar Surver No.388/1Pt,2 is Residential Special Type - I.