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 area is located in Vadakal_C village under the Sriperumpudur SRO, classified as Mixed Type - I land.

How the guideline value of Vasantham Nagar has changed

In the 2017 revision, the guideline value was Rs 502 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 750 per sq.ft. The most recent 2024 revision also maintains the guideline value at Rs 750 per sq.ft, reflecting a 0% change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value has increased by the same percentage of 49%.

Guideline values in Vadakal_C

In Vadakal_C, there are 61 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 400 per sq.ft. Vasantham Nagar's 2024 guideline value of Rs 750 per sq.ft is above this median.

• Vasantham Gardens: Rs 400 per sq.ft (2024)
• Vasantham Nature City (Sri Aurobindo Nagar): Rs 400 per sq.ft (2024)
• 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)

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, totaling Rs 67,500. 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 further calculations.

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 more information.

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

The guideline value is a crucial factor during property transactions in Vadakal_C, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements and to calculate applicable fees.

When a property is sold, the guideline value helps in assessing the stamp duty and registration fees that need to be paid. It serves as a baseline for these calculations, ensuring that all transactions are conducted transparently and fairly.

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 has remained unchanged at Rs 750 per sq.ft from 2023 to 2024, with a 49% increase from Rs 502 per sq.ft in 2017 to 2023 and also from 2017 to 2024.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Mixed Type - I land, which is a designation used for various types of land use.

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 is the stamp duty calculated for property in Vasantham Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 750 per sq.ft would incur a total guideline value of Rs 7,50,000, leading to specific stamp duty and registration fees.