Guideline Value for Vasanthapuri Phase I

Vasanthapuri Phase I guideline value

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

How the guideline value of Vasanthapuri Phase I has changed

The guideline value for Vasanthapuri Phase I has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,210 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 1,100 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 737 per sq.ft, marking a significant increase of 49% from the 2017 figure to the 2023 figure. The 2012 revision also listed the value at Rs 1,100 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, making the guideline value for Vasanthapuri Phase I above this median.

• Vasanthapuri: Rs 1,210 per sq.ft (2024)
• Varalakshmi Avenue: Rs 1,210 per sq.ft (2024)
• Vedhachalam Nagar: Rs 880 per sq.ft (2024)
• Vedhachalam Nagar Extn: Rs 880 per sq.ft (2024)
• VanasanthaPuri Extn: Rs 1,210 per sq.ft (2024)
• Vembuli Amman Koil Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthapuri Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasanthapuri Phase I?

The Sub Registrar Office that covers Vasanthapuri Phase I is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the applicable duties.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vasanthapuri Phase I?

The current guideline value of Vasanthapuri Phase I 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 from Rs 1,100 per sq.ft in 2023 to Rs 1,210 per sq.ft in 2024, an increase of 10%. The value was Rs 737 per sq.ft in 2017 and Rs 1,100 per sq.ft in 2012, showing a significant increase and decrease in the intervening years.

What are the other streets in Malayambakkam with their guideline values?

Other streets in Malayambakkam include Varalakshmi Avenue and VanasanthaPuri Extn, both at Rs 1,210 per sq.ft, while Vedhachalam Nagar and Vedhachalam Nagar Extn are valued at Rs 880 per sq.ft.

What is the stamp duty rate for properties in Vasanthapuri Phase I?

The stamp duty rate for properties in Vasanthapuri Phase I is 7% of the guideline value or sale price, whichever is higher. This is in addition to a registration fee of 2%.

Where can I find the Sub Registrar Office for Vasanthapuri Phase I?

The Sub Registrar Office for Vasanthapuri Phase I is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all registration activities for the area.