Guideline Value for Vasanthapuram Phase II

Vasanthapuram Phase II guideline value

The current guideline value for Vasanthapuram Phase II is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Baraniputjur village, under the Kunrathur SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasanthapuram Phase II has changed

The guideline value has undergone several revisions over the years. In 2007, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,100 per sq.ft in 2012. However, it then decreased to Rs 737 per sq.ft in 2017. The value saw a substantial rise to Rs 1,100 per sq.ft in 2023, before reaching the current figure of Rs 1,210 per sq.ft in 2024.

Between the revisions, notable changes occurred. From 2007 to 2012, the guideline value increased by 340%. However, it then decreased by 33% from 2012 to 2017. Following this, there was a significant increase of 49% from 2017 to 2023, and an increase of 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 384%.

Guideline values in Baraniputjur

Baraniputjur village has 39 streets under the Kunrathur SRO, with guideline values ranging from Rs 700 to Rs 2,500 per sq.ft. The median guideline value is Rs 1,210 per sq.ft, which is the same as the current value for Vasanthapuram Phase II.

• Vasanthapuram: Rs 1,210 per sq.ft (2024)
• Vajjiravel Nagar: Rs 1,210 per sq.ft (2024)
• Uma mageswari Nagar: Rs 1,210 per sq.ft (2024)
• Tvs Emerald Green Enclave: Rs 2,500 per sq.ft (2024)
• V.P. Sinthan Nagar: Rs 1,210 per sq.ft (2024)
• Theru veedhiyamman Koil Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthapuram Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% is Rs 84,700, and the registration fee at 2% is Rs 24,200, making the total cost for these fees Rs 1,08,900. 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 Vasanthapuram Phase II?

The Sub Registrar Office that covers Vasanthapuram Phase II is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Baraniputjur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair price.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Vasanthapuram Phase II?

The current guideline value of Vasanthapuram Phase II is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the value in 2007 at Rs 250 per sq.ft, increasing to Rs 1,210 per sq.ft in 2024. The most notable increases occurred from 2007 to 2012 and from 2017 to 2024.

What are the guideline values for other streets in Baraniputjur?

Other streets in Baraniputjur have guideline values ranging from Rs 700 to Rs 2,500 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, which is also the guideline value for Vasanthapuram Phase II.

What fees are associated with buying property in Vasanthapuram Phase II?

When purchasing property, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total fee of Rs 1,08,900.

Where can I find the Sub Registrar Office for Vasanthapuram Phase II?

The Kunrathur Sub Registrar Office covers Vasanthapuram Phase II and is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more information by visiting the appropriate link.