Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar, located in Kovilpathagai village, is Rs 807 per sq.ft, effective from 1 July 2024. This area falls under the Ambattur SRO and is classified as Residential Class III Type - II.

How the guideline value of Vasantham Nagar has changed

Looking at the revisions, the guideline value for Vasantham Nagar was Rs 500 per sq.ft in 2012. This figure saw a decrease of 33% to Rs 335 per sq.ft in 2017. The value then increased significantly by 141% to Rs 807 per sq.ft in 2023. The most recent revision in 2024 maintained this value at Rs 807 per sq.ft, showing no change from the previous year.

It is important to note that for the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 61%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Vasantham Nagar's 2024 figure below that median.

• Vasantham Nagar Surver No.388/1Pt,2: Rs 1,200 per sq.ft (2024)
• Varatharajan Street: Rs 805 per sq.ft (2024)
• Vasanth Nagar Annex: Rs 807 per sq.ft (2024)
• Vanniyar Street: Rs 805 per sq.ft (2024)
• Vanna Tank: Rs 806 per sq.ft (2024)
• Vannan Street: Rs 806 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 807 per sq.ft, the total guideline value amounts to Rs 8,07,000. The stamp duty charged at 7% would be Rs 56,490, and the registration fee at 2% would be Rs 16,140, bringing the total cost for these fees to Rs 72,630. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, 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 Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that both the buyer and seller are aware of the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 807 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 807 per sq.ft in 2023, and remained the same in 2024.

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

For a property valued at Rs 8,07,000, the stamp duty would be Rs 56,490 and the registration fee would be Rs 16,140, totaling Rs 72,630.

Which office handles registrations for Vasantham Nagar?

The Ambattur Sub Registrar Office handles registrations for Vasantham Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

What is the median guideline value in Kovilpathagai?

The median guideline value for the streets in Kovilpathagai is Rs 870 per sq.ft, with Vasantham Nagar's current value being below this median.