Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. In the 2003 revision, the value was set at Rs 152 per sq.ft. This figure saw a significant increase in the 2007 revision, where it rose to Rs 600 per sq.ft, marking a change of +295%. The value then jumped dramatically to Rs 3,000 per sq.ft in the 2012 revision, reflecting a remarkable increase of +400%. However, the 2017 revision saw a decrease to Rs 2,010 per sq.ft, which was a drop of -33%. The value rebounded in the 2023 revision to Rs 3,000 per sq.ft, and the latest 2024 revision has set it at Rs 3,300 per sq.ft, an increase of +10% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by +2071%.

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 guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Vasantham Nagar.

• Vasantham Nagar 2nd cross Street: Rs 3,300 per sq.ft (2024)
• Varadhan Nagar: Rs 3,850 per sq.ft (2024)
• Vanniyar Street: Rs 3,520 per sq.ft (2024)
• Vathiyar Manickam 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

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, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can 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 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar 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 from Rs 152 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of +2071% over this period.

What were the revisions in the guideline value for Vasantham Nagar?

The revisions for Vasantham Nagar are as follows: Rs 152 (2003), Rs 600 (2007), Rs 3,000 (2012), Rs 2,010 (2017), Rs 3,000 (2023), and Rs 3,300 (2024).

What is the registration fee for property in Vasantham Nagar?

The registration fee for property in Vasantham Nagar is calculated at 2% of the guideline value. For example, for a plot valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where is the Sub Registrar Office for Vasantham Nagar located?

The Sub Registrar Office for Vasantham Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.