Guideline Value for Vasanthi Nagar

Vasanthi Nagar guideline value

The current guideline value of Vasanthi Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village, under the Padappai SRO, and is classified as Residential Special Type - II.

How the guideline value of Vasanthi Nagar has changed

The guideline value for Vasanthi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 700 per sq.ft in the 2023 revision, and most recently to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a 10% increase. The changes between revisions include a 49% increase from 2017 to 2023, and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pazhanthandalam

In Pazhanthandalam, there are 57 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Vasanthi Nagar is below this median.

• Vinayaga Nagar: Rs 770 per sq.ft (2024)
• Vivekananda Nagar: Rs 1,100 per sq.ft (2024)
• Thai Thillai Nagar: Rs 770 per sq.ft (2024)
• Thai Kanniyammal Nagar Extension III: Rs 770 per sq.ft (2024)
• Thai Kanniyammal Nagar: Rs 770 per sq.ft (2024)
• Tasiowa Industrial Park Phase II: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vasanthi Nagar?

The Sub Registrar Office that covers Vasanthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pazhanthandalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the property's worth and aids in the smooth processing of registration documents at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Vasanthi Nagar?

The current guideline value of Vasanthi Nagar is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Vasanthi Nagar?

Vasanthi Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where can I find the registration office for Vasanthi Nagar?

The registration office for Vasanthi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Vasanthi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000, leading to a stamp duty of Rs 53,900.