Guideline Value for Vasantham Nagar

Vasantham Nagar guideline value

The current guideline value of Vasantham Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Vasantham Nagar has changed

The guideline value for Vasantham Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 600 per sq.ft in the 2023 revision, followed by another increase to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% rise.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. Vasantham Nagar's 2024 guideline value is below this median.

• Velayudham Nagar: Rs 1,320 per sq.ft (2024)
• V.S.S Nagar: Rs 660 per sq.ft (2024)
• Thirumudivakkam Road: Rs 1,320 per sq.ft (2024)
• Thai Thillai Nagar: Rs 660 per sq.ft (2024)
• Swagatham Nagar: Rs 660 per sq.ft (2024)
• Subhalakshmi Nagar: Rs 1,320 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more calculations.

Which Sub Registrar Office covers Vasantham Nagar?

The Sub Registrar Office that covers Vasantham Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumudivakkam. It helps determine the stamp duty and registration fees that are payable when buying or selling property in the area.

When a property is registered, the guideline value is used to ensure that the transaction is recorded at a value that reflects the official rates set by the government. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Vasantham Nagar?

The current guideline value of Vasantham Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Vasantham Nagar?

Vasantham Nagar is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Vasantham Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Vasantham Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200.