Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar, located in Sirukalathur village under the Sriperumpudur SRO, is Rs 750 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Mixed Type - I.

How the guideline value of Vasantham Nagar has changed

Over the years, the guideline value for Vasantham Nagar has seen several revisions. The 2012 revision set the value at Rs 750 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was recorded at Rs 502 per sq.ft, marking a decrease of 33%. The 2023 revision returned the value to Rs 750 per sq.ft, and the 2024 revision maintains this figure, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained stable, with a total change of 0% over this period.

Guideline values in Sirukalathur

In Sirukalathur, there are five streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 1,900 per sq.ft. The median value among these streets is Rs 750 per sq.ft, which is equal to the guideline value of Vasantham Nagar.

• VGP Vinoth Town Part -I: Rs 300 per sq.ft (2024)
• Sri Sai Nagar (Mohamed Nagar): Rs 400 per sq.ft (2024)
• S & P Fortune: Rs 1,500 per sq.ft (2024)
• Vista Marbella: Rs 1,900 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 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty at 7% would be Rs 52,500, while the registration fee at 2% would be Rs 15,000, bringing the total cost together to Rs 67,500. It is important to note that the duty is charged on the higher of the guideline value or 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 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 Sirukalathur

The guideline value plays a crucial role in the registration process of property transactions in Sirukalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted transparently and fairly.

When buying or selling property, the guideline value affects the calculation of stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 750 per sq.ft, effective from the 2024 revision starting on 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then back to Rs 750 per sq.ft in 2023, and remaining the same for 2024, showing an overall change of 0% from 2012 to 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 7,50,000. The stamp duty at 7% is Rs 52,500, and the registration fee at 2% is Rs 15,000, totaling Rs 67,500.

Which Sub Registrar Office covers Vasantham Nagar?

The Sriperumpudur Sub Registrar Office covers Vasantham Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used as a benchmark for registering property transactions in Sirukalathur. It determines the minimum value for registration and is essential for calculating stamp duty and registration fees based on the higher of the guideline value or the sale price.