Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Koozhangacheri village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vasantham Nagar has changed

Over the years, the guideline value of Vasantham Nagar has seen several revisions. The most recent revisions show that the value remained constant at Rs 200 per sq.ft from 2023 to 2024. Prior to that, the value was also Rs 200 per sq.ft in 2012, and Rs 134 per sq.ft in 2017. The changes between these years indicate a significant increase of 49% from 2017 to 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 200 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. This lack of data means we cannot assess any changes during those periods.

Guideline values in Koozhangacheri

In Koozhangacheri, there are 47 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,200 per sq.ft, with a median value of Rs 226 per sq.ft. Vasantham Nagar's 2024 figure is below that median.

• Vasantha Garden: Rs 200 per sq.ft (2024)
• Vansanthapuram: Rs 200 per sq.ft (2024)
• Veera Nagar: Rs 226 per sq.ft (2024)
• Vetri Nagar Part-II: Rs 200 per sq.ft (2024)
• Vettri Nagar: Rs 200 per sq.ft (2024)
• Vijay Nagar: Rs 226 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty is charged at 7%, which totals Rs 14,000, and the registration fee is charged at 2%, amounting to Rs 4,000. Together, the total fees would be Rs 18,000. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Koozhangacheri. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained constant at Rs 200 per sq.ft from 2023 to 2024 and in 2012. It increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Vasantham Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft has a total guideline value of Rs 2,00,000, leading to total fees of Rs 18,000.