Guideline Value for Vasanthapuri

Vasanthapuri guideline value

The current guideline value of Vasanthapuri 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 has changed

The guideline value for Vasanthapuri has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 616 per sq.ft. In 2012, it increased to Rs 1,100 per sq.ft, but then dropped to Rs 737 per sq.ft in 2017. The value saw a significant rise to Rs 1,100 per sq.ft in 2023, before reaching the current value of Rs 1,210 per sq.ft in 2024. There are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 shows an increase of 96%, highlighting the fluctuations in the guideline value over the years.

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, placing Vasanthapuri's 2024 figure above this median.

• Vasanthapuri Phase I: 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

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be 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. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vasanthapuri?

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

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

The guideline value plays a crucial role during the registration of property transactions in Malayambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on an official valuation of the property.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is in alignment with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Vasanthapuri?

The current guideline value of Vasanthapuri 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 616 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, showing an overall increase of 96% over the years.

What is the stamp duty rate for properties in Vasanthapuri?

The stamp duty rate for properties in Vasanthapuri is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

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

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property using the stamp duty and registration fee calculator available online.