Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 400 per sq.ft, effective from 1 July 2024. This area is located in Puthuper village, under the Sriperumpudur 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. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, this value dropped to Rs 268 per sq.ft in 2017. The most recent revisions in 2023 and 2024 both maintain the guideline value at Rs 400 per sq.ft, showing no change between these two years.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 represented a remarkable increase of 300%, while the overall change from 2007 to 2024 is also 300%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Puthuper

Puthuper village has 39 streets under the Sriperumpudur SRO, with the 2024 guideline values ranging from Rs 100 to Rs 1,350 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the guideline value of Vasantham Nagar.

• Venkateswara Nagar: Rs 510 per sq.ft (2024)
• Vinayagar Koil Street: Rs 200 per sq.ft (2024)
• Sriram Nagar: Rs 300 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Ganapathy Garden: Rs 400 per sq.ft (2024)
• Sivashanmugam Nagar Annex-III: Rs 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 rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Puthuper. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid based on the property's value.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This value helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017, and has remained at Rs 400 per sq.ft in both 2023 and 2024.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Which office handles the registration of properties in Vasantham Nagar?

The registration of properties in Vasantham Nagar is handled by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.