Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This street is located in Vadakal_B village under the Sriperumpudur SRO, classified as Mixed Type - I land.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 502 per sq.ft, which remained unchanged at Rs 750 per sq.ft in the 2023 revision. The latest revision in 2024 also maintains the guideline value at Rs 750 per sq.ft, marking no change from the previous year. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49%, reflecting the same rate of Rs 750 per sq.ft in the most recent revisions.

Guideline values in Vadakal_B

In Vadakal_B village, there are 34 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,900 per sq.ft. The median guideline value for the village is Rs 300 per sq.ft, placing Vasantham Nagar's 2024 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 amounts to Rs 7,50,000. The stamp duty, charged at 7%, would be Rs 52,500, while the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. It is important to note that 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 covering 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal_B. It serves as a benchmark for determining the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded accurately for tax purposes. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

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?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 750 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002, 2003, 2007, and 2012.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Mixed Type - I land, which is relevant for understanding its use and potential in property transactions.

Where can I find the Sub Registrar Office for Vasantham Nagar?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 750 per sq.ft results in a total guideline value of Rs 7,50,000, with corresponding fees calculated accordingly.