Guideline Value for Vasanthpuram

Vasanthpuram guideline value

The current guideline value of Vasanthpuram in Maakaanyam village is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office (SRO) and is classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Vasanthpuram has changed

Over the years, the guideline value of Vasanthpuram has undergone several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 250 per sq.ft. The 2017 revision saw a decrease to Rs 167 per sq.ft, marking a 33% drop from the previous figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 250 per sq.ft. The current revision in 2024 has maintained this value, resulting in an overall change of 0% from 2012 to 2024.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft, with the median being Rs 250 per sq.ft. Vasanthpuram's guideline value aligns with this median.

• Udaiyar Street: Rs 150 per sq.ft (2024)
• Vinayagar Koil Street: Rs 150 per sq.ft (2024)
• Thirupathi Nagar: Rs 500 per sq.ft (2024)
• VN Nagar: Rs 200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 300 per sq.ft (2024)
• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasanthpuram

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. Please note that 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 more details.

Which Sub Registrar Office covers Vasanthpuram?

The Sub Registrar Office covering Vasanthpuram is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during the registration of property transactions in Maakaanyam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both the buyer and seller are aware of the official value assigned to the property.

When you buy or sell property in Vasanthpuram, the guideline value is used to determine the applicable fees. It is essential to consider this value, as it can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Vasanthpuram?

The current guideline value of Vasanthpuram is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2012, with a previous drop to Rs 167 per sq.ft in 2017. The value then increased back to Rs 250 per sq.ft in 2023 and has stayed the same in 2024.

What is the land classification for Vasanthpuram?

Vasanthpuram is classified as a New House Site Type -II (Unapproved Lay-Out) under the current guidelines.

Where can I find the Sub Registrar Office for Vasanthpuram?

The Sub Registrar Office for Vasanthpuram is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated in Vasanthpuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 2,50,000, the stamp duty would be Rs 17,500.