Guideline Value for Vasantham nagar Ext

Vasantham nagar Ext guideline value

The current guideline value of Vasantham nagar Ext is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vasantham nagar Ext has changed

The guideline value for Vasantham nagar Ext has seen several changes over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the most recent 2024 revision has further raised it to Rs 1,320 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows a modest increase of 10% in the guideline value.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Vasantham nagar Ext's 2024 figure below that median.

• Vasantham nagar: Rs 2,200 per sq.ft (2024)
• Vasuki Street: Rs 1,650 per sq.ft (2024)
• Vasuki Street Ext Balaji Nagar Annex: Rs 1,650 per sq.ft (2024)
• Vanilarasu Street: Rs 4,400 per sq.ft (2024)
• Veluchetty Street: Rs 2,200 per sq.ft (2024)
• Venkatesachowdry St: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 more details.

Which Sub Registrar Office covers Vasantham nagar Ext?

The Sub Registrar Office that covers Vasantham nagar Ext is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in the registration process of property transactions in Tambaram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Vasantham nagar Ext?

The current guideline value for Vasantham nagar Ext is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Vasantham nagar Ext?

Vasantham nagar Ext is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Vasantham nagar Ext?

The stamp duty rate for properties in Vasantham nagar Ext is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for Vasantham nagar Ext?

The Sub Registrar Office for Vasantham nagar Ext is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information by visiting the provided link.