Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Special Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 438 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, this rate saw a decrease of 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and the current 2024 revision continues this rate, showing no change from the previous year.

In summary, the changes from the 2007 revision to the 2024 revision reflect an overall increase of 242%. The values for the years 2002 and 2003 are not available in the register for this street.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value is Rs 1,500 per sq.ft, which aligns with the current guideline value of Vasantham Nagar.

• Vedagiri Nagar: Rs 1,200 per sq.ft (2024)
• Veerabagu Nagar: Rs 2,000 per sq.ft (2024)
• Veerabagu Nagar Extn: Rs 2,000 per sq.ft (2024)
• Valluvar Nagar: Rs 1,200 per sq.ft (2024)
• Valluvar Colony: Rs 1,200 per sq.ft (2024)
• Vallalar Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000, making the total cost Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Nagar?

The Sub Registrar Office that covers Vasantham Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair price, avoiding undervaluation. This helps maintain transparency and integrity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 438 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017. It remained at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions.

What are the guideline values for other streets in Nandhivaram?

Other streets in Nandhivaram have varying guideline values, ranging from Rs 1,200 to Rs 2,000 per sq.ft. The median value for the village is Rs 1,500 per sq.ft, which is the same as that of Vasantham Nagar.

What are the stamp duty and registration fees for property in Vasantham Nagar?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000, and the registration fee would be Rs 30,000, totaling Rs 1,35,000. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations in Vasantham Nagar?

The Gooduvancheri Sub Registrar Office handles property registrations for Vasantham Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.