Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Palur - C village under the Chengleput Joint II SRO and is classified as Residential Class II Type - II.

How the guideline value of Vasantham Nagar has changed

The guideline value register shows that there are no figures for Vasantham Nagar in the revisions from 2002, 2003, 2007, 2012, and 2017. The 2023 revision maintained the guideline value at Rs 1,000 per sq.ft, which remained unchanged in the 2024 revision.

From 2023 to 2024, the guideline value saw a change of +0%, with the current rate still standing at Rs 1,000 per sq.ft. This indicates stability in the valuation for this street over the last two years.

Guideline values in Palur - C

In Palur - C, there are 9 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,500 per sq.ft, with a median of Rs 400 per sq.ft. Vasantham Nagar's 2024 figure is above this median.

• Ruby Urban Town: Rs 670 per sq.ft (2024)
• Heritage City: Rs 1,500 per sq.ft (2024)
• Lakshmi Nagar Part III: Rs 400 per sq.ft (2024)
• Lodhas Pathankeshwarar Nagar: Rs 400 per sq.ft (2024)
• Om Sai Nagar Phase -II: Rs 400 per sq.ft (2024)
• Vetrivel Nagar: Rs 1,500 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 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. 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 Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Palur - C

The guideline value plays a crucial role during the registration of property transactions in Palur - C. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these fees are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The registration process requires that the stamp duty is calculated on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 1,000 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 stable at Rs 1,000 per sq.ft since the 2023 revision. There are no figures available for the revisions from 2002 to 2017.

What is the classification of Vasantham Nagar?

Vasantham Nagar is classified as Residential Class II Type - II, indicating its designation for residential use within the area.

What are the other streets in Palur - C and their guideline values?

Other streets in Palur - C have varying guideline values, ranging from Rs 300 to Rs 1,500 per sq.ft. For example, Heritage City is valued at Rs 1,500 per sq.ft, while Ruby Urban Town is at Rs 670 per sq.ft.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Vasantham Nagar and surrounding areas.