Guideline Value for Vasantham nagar

Vasantham nagar guideline value

The current guideline value of Vasantham nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

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 2,000 per sq.ft, which remained unchanged in the 2017 revision, where it dropped to Rs 1,340 per sq.ft. The 2023 revision increased the value to Rs 2,000 per sq.ft, followed by a further increase to Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram village, 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, with a median value of Rs 3,300 per sq.ft. The guideline value of Vasantham nagar is below this median.

• Vasantham nagar Ext: Rs 1,320 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)
• Vaigai Street: Rs 2,200 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasantham nagar?

The Sub Registrar Office that covers Vasantham nagar 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 is essential for property registration in Tambaram. It determines the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is registered, the guideline value serves as a baseline for calculating the associated fees. It is important to note that these fees are based on either the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasantham nagar?

The current guideline value of Vasantham nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

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

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

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

What is the land classification of Vasantham nagar?

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