Guideline Value for Vasanthapuram (Extn-1)

Vasanthapuram (Extn-1) guideline value

The current guideline value of Vasanthapuram (Extn-1) is Rs 900 per sq.ft, as per the 2023 revision. This area falls under Unamancheri village and is classified as Residential Special Type - II. The relevant Sub Registrar Office for this locality is the Gooduvancheri SRO.

How the guideline value of Vasanthapuram (Extn-1) has changed

The guideline value for Vasanthapuram (Extn-1) has seen several revisions over the years. In 2007, the guideline value was Rs 100 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking an increase of 800%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The most recent revision in 2023 saw the guideline value rise again to Rs 900 per sq.ft, representing an increase of 49% from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 800%. It is important to note that the register has no figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Unamancheri

Currently, there are no specific guideline values provided for other streets in Unamancheri. Vasanthapuram (Extn-1) is the only street mentioned in the available data.

Stamp duty and registration fee for property in Vasanthapuram (Extn-1)

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total fees to Rs 81,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasanthapuram (Extn-1)?

The Sub Registrar Office that covers Vasanthapuram (Extn-1) is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Unamancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the sale. It is essential for all parties to understand the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Vasanthapuram (Extn-1)?

The current guideline value of Vasanthapuram (Extn-1) is Rs 900 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 900 per sq.ft in 2012, then decreased to Rs 603 per sq.ft in 2017, and finally returned to Rs 900 per sq.ft in 2023.

What is the land classification for Vasanthapuram (Extn-1)?

Vasanthapuram (Extn-1) is classified as Residential Special Type - II.

Where is the Gooduvancheri SRO located?

The Gooduvancheri SRO is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at Rs 900 per sq.ft, the total fees would amount to Rs 81,000.