Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 350 per sq.ft, effective from 1 July 2024. This area is located in Vadamelpakkam village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has seen several revisions over the years. In 2007, the value was set at Rs 70 per sq.ft, which increased significantly to Rs 350 per sq.ft in 2012. However, it then decreased to Rs 234 per sq.ft in 2017. From 2017 to 2023, the value rose by 50%, bringing it back to Rs 350 per sq.ft, a figure that remained unchanged in the 2024 revision.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Vadamelpakkam

In Vadamelpakkam, there are 19 streets under the Gooduvancheri SRO that carry a guideline value for 2024, ranging from Rs 350 to Rs 1,000 per sq.ft. The median value among these streets is Rs 350 per sq.ft, which is equal to the guideline value of Vasantham Nagar.

• Star City: Rs 350 per sq.ft (2024)
• Sri Sai Nagar: Rs 350 per sq.ft (2024)
• Senthamil Nagar: Rs 350 per sq.ft (2024)
• Paradise City Extension: Rs 1,000 per sq.ft (2024)
• Paradise City: Rs 1,000 per sq.ft (2024)
• Mavsorva Garden: Rs 350 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 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty is calculated at 7%, which is Rs 24,500, and the registration fee is 2%, amounting to Rs 7,000. Together, the total fees would be Rs 31,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

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, Nanthivaram, 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 Vadamelpakkam

The guideline value is a critical factor when registering property in Vadamelpakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the official valuation of the property.

When buying or selling property, the guideline value helps in determining the minimum price at which a property can be registered. This ensures transparency and compliance with legal requirements during the transaction process.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 350 per sq.ft in both 2023 and 2024. The value was Rs 234 per sq.ft in 2017 and Rs 70 per sq.ft in 2007.

What are the guideline values of other streets in Vadamelpakkam?

Other streets in Vadamelpakkam have varying guideline values, with some streets like Star City and Sri Sai Nagar also at Rs 350 per sq.ft, while Paradise City and Paradise City Extension are valued at Rs 1,000 per sq.ft in 2024.

How is stamp duty calculated in Vasantham Nagar?

Stamp duty in Vasantham Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot valued at Rs 3,50,000, the stamp duty would be Rs 24,500.

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

The Sub Registrar Office for Vasantham Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.