Guideline Value for Vasanthapuram Pase I

Vasanthapuram Pase I guideline value

The current guideline value of Vasanthapuram Pase I is Rs 1,550 per sq.ft, effective from 1 July 2024. This area is located in Srinivasapuram village and falls under the Kunrathur SRO. The land classification is Residential Class I Type - I.

How the guideline value of Vasanthapuram Pase I has changed

The guideline value for Vasanthapuram Pase I has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 400 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, but then saw a decrease to Rs 938 per sq.ft in 2017. The value rose again to Rs 1,400 per sq.ft in 2023, and currently stands at Rs 1,550 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2007 to 2012, the guideline value increased by 250%. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2007 to 2024, the guideline value has increased by 288%.

Guideline values in Srinivasapuram

Srinivasapuram village has 39 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Vasanthapuram Pase I's 2024 figure below that median.

• Vasantha puram Nagar: Rs 1,550 per sq.ft (2024)
• Vasantham Nagar Phase II: Rs 1,550 per sq.ft (2024)
• Velayutham Nagar: Rs 2,000 per sq.ft (2024)
• Vethachalam Nagar: Rs 2,000 per sq.ft (2024)
• Vgn Highness: Rs 7,400 per sq.ft (2024)
• TheruVeethiyamman Koil Theru: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthapuram Pase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, bringing the total to Rs 1,39,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use this stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Vasanthapuram Pase I?

The Sub Registrar Office that covers Vasanthapuram Pase I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is an important factor in the registration process of property transactions in Srinivasapuram. It serves as a benchmark for determining the stamp duty and registration fees payable when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is compliant with local regulations. This value helps in standardizing property transactions within the area.

Frequently asked questions

What is the current guideline value of Vasanthapuram Pase I?

The current guideline value of Vasanthapuram Pase I is Rs 1,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,550 per sq.ft in 2024, reflecting an overall increase of 288% over this period.

What is the stamp duty on property in Vasanthapuram Pase I?

The stamp duty on property in Vasanthapuram Pase I is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vasanthapuram Pase I?

The Kunrathur Sub Registrar Office covers Vasanthapuram Pase I, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the guideline values of other streets in Srinivasapuram?

Other streets in Srinivasapuram have varying guideline values, with rates ranging from Rs 1,550 to Rs 7,400 per sq.ft as per the 2024 revision.