Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 950 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value of Vasantham Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 260%. However, in 2017, the value dropped to Rs 603 per sq.ft, a decrease of 33%. The most recent revisions show a steady increase, with the value rising to Rs 900 per sq.ft in 2023 and further to Rs 950 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 280%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Vasantham Nagar's 2024 figure below that median.

• Vasantham Avenue: Rs 950 per sq.ft (2024)
• Vasuki Street: Rs 1,600 per sq.ft (2024)
• Valmiki Sali: Rs 950 per sq.ft (2024)
• Veeramamunivar Street: Rs 1,600 per sq.ft (2024)
• Velachery Main Road: Rs 4,300 per sq.ft (2024)
• Vembuli Bhavanandhiar Street Extn: Rs 1,400 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Chembakkam

The guideline value is a crucial factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum sale price of a property, ensuring that the transaction is recorded at a fair value as per government regulations.

When you buy or sell property, the guideline value is considered alongside the actual sale price. The stamp duty and registration fees are calculated based on the higher of the two values, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, reflecting an overall increase of 280% over the years.

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

For a property valued at Rs 9,50,000, the stamp duty would be Rs 66,500 and the registration fee would be Rs 19,000, totaling Rs 85,500.

Which Sub Registrar Office is responsible for Vasantham Nagar?

The Selaiyur Sub Registrar Office is responsible for Vasantham Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Class IV Type - I under the guideline value register.