Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar, located in Vadakal village under the Sriperumpudur SRO, is Rs 750 per sq.ft, effective from 1 July 2024. This area is classified as 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 until the 2023 revision, also at Rs 750 per sq.ft. The 2017 revision marked a significant increase to Rs 502 per sq.ft, reflecting a 49% rise from the previous revision. Notably, the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 750 per sq.ft. The guideline value did not change between the 2023 and 2024 revisions, maintaining the rate at Rs 750 per sq.ft.

Guideline values in Vadakal

In Vadakal village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Vasantham Nagar's current value above this median.

• Velalar Street: Rs 300 per sq.ft (2024)
• Tristar City: Rs 150 per sq.ft (2024)
• V.G.P.Vinoth Town: Rs 200 per sq.ft (2024)
• V.G.P.Vinoth Town Part II: Rs 200 per sq.ft (2024)
• V.G.P. Vinoth Town Part III: Rs 200 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 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 would be Rs 7,50,000. The stamp duty at 7% would amount to Rs 52,500, and the registration fee at 2% would be Rs 15,000, bringing the total fees 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 details, 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 Vadakal

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the registration reflects the true value of the transaction, protecting both buyers and sellers in the property market.

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 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vasantham Nagar has remained at Rs 750 per sq.ft since 2012, with a significant increase from Rs 502 per sq.ft in 2017. There were no changes between the 2023 and 2024 revisions.

What is the land classification for Vasantham Nagar?

Vasantham Nagar is classified as Mixed Type - I, indicating the diverse use of land in this area.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 7,50,000, the total fees would be 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.