Guideline Value for Vasanthapuram part III

Vasanthapuram part III guideline value

The current guideline value of Vasanthapuram part III is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village and falls under the Kunrathur SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Vasanthapuram part III has changed

The guideline value for Vasanthapuram part III has seen several revisions over the years. In 2017, the guideline value was Rs 1,273 per sq.ft, which increased to Rs 1,900 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The significant changes between the revisions indicate a 49% increase from 2017 to 2023, reflecting the evolving property landscape in the area.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Vasanthapuram part III's 2024 value above this median.

• Vasanthapuram: Rs 2,090 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vaikundaperumal Koil Street: Rs 1,430 per sq.ft (2024)
• Udhaya Nagar: Rs 2,530 per sq.ft (2024)
• Udhayakumar Nagar: Rs 1,870 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthapuram part III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total charges to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasanthapuram part III?

The Sub Registrar Office that covers Vasanthapuram part III 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 Mangadu -A

The guideline value plays a crucial role in the registration of property transactions in Mangadu -A. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall costs involved in the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining legal compliance and transparency.

Frequently asked questions

What is the current guideline value of Vasanthapuram part III?

The current guideline value of Vasanthapuram part III is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,273 per sq.ft in 2017 to Rs 2,090 per sq.ft in 2024, reflecting a 64% increase over this period.

What is the land classification for Vasanthapuram part III?

The land classification for Vasanthapuram part III is Residential Special Type - II.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 20,90,000, the stamp duty would be Rs 1,46,300 at 7%.