Guideline Value for VasanthamNagar

VasanthamNagar guideline value

The current guideline value of VasanthamNagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and is classified as Residential Special Type - II.

How the guideline value of VasanthamNagar has changed

The guideline value for VasanthamNagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 175 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 757%. However, it then decreased to Rs 1,005 per sq.ft in 2017, reflecting a drop of 33%. The value further increased to Rs 1,500 per sq.ft in 2023, followed by a final increase to Rs 1,650 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 843%. The revisions illustrate a fluctuating trend, with the most recent value aligning with the median guideline value of Rs 1,650 per sq.ft for the village.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the guideline value for VasanthamNagar. Below are the guideline values for other streets in Varadarajapuram:

• Vasantham Nagar S.No.539/1: Rs 880 per sq.ft (2024)
• Vasantham Nagar S.Nos.539/1, 540/1a: Rs 880 per sq.ft (2024)
• Vamanan Avenue: Rs 2,960 per sq.ft (2024)
• Velankanni Nagar: Rs 1,320 per sq.ft (2024)
• Velayudham Nagar: Rs 1,320 per sq.ft (2024)
• Vaidegi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in VasanthamNagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, resulting in a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VasanthamNagar?

The Sub Registrar Office that covers VasanthamNagar 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 Varadarajapuram

The guideline value plays a crucial role in the registration process of property transactions in Varadarajapuram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Accurate knowledge of these values helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of VasanthamNagar?

The current guideline value of VasanthamNagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 175 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 843% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers VasanthamNagar?

The Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, covers VasanthamNagar.

What is the land classification for VasanthamNagar?

VasanthamNagar is classified as Residential Special Type - II, indicating its designation for residential use within the area.