Guideline Value for Vasantham nagar

Vasantham nagar guideline value

The current guideline value of Vasantham nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village under the Chengleput Joint I SRO, classified as Residential Special Type - I.

How the guideline value of Vasantham nagar has changed

The guideline value for Vasantham nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 123 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2012, marking a substantial rise of 388%. However, in 2017, the value dropped to Rs 402 per sq.ft, reflecting a decrease of 33%. The value remained at Rs 600 per sq.ft in 2023 and continues to be Rs 600 per sq.ft in 2024, indicating no change between these two revisions.

Overall, from 2007 to 2024, the guideline value has increased by 388%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,050 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the guideline value of Vasantham nagar.

• Valmigi nagar: Rs 400 per sq.ft (2024)
• Thulasinga Nagar: Rs 400 per sq.ft (2024)
• Vinayaga Nagar: Rs 900 per sq.ft (2024)
• Thendral Nagar: Rs 600 per sq.ft (2024)
• Yasmin Nagar: Rs 500 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 600 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Vasantham nagar?

The Sub Registrar Office that covers Vasantham nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Vedanareyanapuram. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures that the correct amount of duty is paid during the registration of the property. This helps maintain transparency and 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 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant increase occurring from Rs 123 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, followed by a decrease to Rs 402 per sq.ft in 2017. It has remained at Rs 600 per sq.ft since then.

What are the other streets in Vedanareyanapuram with their guideline values?

Other streets in Vedanareyanapuram include Valmigi nagar at Rs 400 per sq.ft, Thulasinga Nagar at Rs 400 per sq.ft, Vinayaga Nagar at Rs 900 per sq.ft, Thendral Nagar at Rs 600 per sq.ft, Yasmin Nagar at Rs 500 per sq.ft, and Sri Rajeswari Nagar at Rs 600 per sq.ft.

What is the stamp duty rate for properties in Vasantham nagar?

The stamp duty rate for properties in Vasantham nagar is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office for Vasantham nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.