Guideline Value for Vasanthi Colony

Vasanthi Colony guideline value

The current guideline value of Vasanthi Colony is Rs 850 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class V Type - I.

How the guideline value of Vasanthi Colony has changed

The guideline value for Vasanthi Colony has undergone several revisions over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, in the 2017 revision, the value rose to Rs 536 per sq.ft, and then increased further to Rs 800 per sq.ft in 2023. The current 2024 revision shows a guideline value of Rs 850 per sq.ft, marking a 6% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 183%. Notably, there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Vasanthi Colony's current value below this median.

• Vasuki Street: Rs 1,800 per sq.ft (2024)
• Varalakshmi Street: Rs 850 per sq.ft (2024)
• Vedhachalam Street: Rs 1,600 per sq.ft (2024)
• Varadarajapuram: Rs 850 per sq.ft (2024)
• Varadarajan Nagar: Rs 1,800 per sq.ft (2024)
• Veerabedran Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, making the total cost Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Vasanthi Colony?

The Sub Registrar Office that covers Vasanthi Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It determines the minimum value at which the property can be registered and is used to calculate the stamp duty and registration fees.

When a property is sold, the guideline value serves as a benchmark for the transaction. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasanthi Colony?

The current guideline value of Vasanthi Colony is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, reflecting an overall increase of 183% over the years.

What are the stamp duty and registration fees for property in Vasanthi Colony?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 76,500.

Which Sub Registrar Office covers Vasanthi Colony?

The Selaiyur Sub Registrar Office covers Vasanthi Colony, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification of Vasanthi Colony?

Vasanthi Colony is classified as Residential Class V Type - I, indicating its designation for residential purposes.