Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Erandankattalai village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has undergone several revisions over the years. In the 2017 revision, the guideline value was set at Rs 670 per sq.ft. This increased to Rs 1,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Erandankattalai

Erandankattalai village has a total of 60 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Vasantham Nagar.

• Yadhaval Street (ward 3): Rs 1,100 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,100 per sq.ft (2024)
• Sri Ram Avenue: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar Extn: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 6): Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more detailed calculations, 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erandankattalai. It serves as a benchmark for calculating the stamp duty and registration fees that are payable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the stamp duty rate in Vasantham Nagar?

The stamp duty rate in Vasantham Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Vasantham Nagar located?

The Sub Registrar Office for Vasantham Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Erandankattalai?

The median guideline value for streets in Erandankattalai is Rs 1,100 per sq.ft, which is the same as the guideline value for Vasantham Nagar.