Guideline Value for Yasmin Nagar

Yasmin Nagar guideline value

The current guideline value of Yasmin Nagar is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Vedanareyanapuram village, under the Chengleput Joint I SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Yasmin Nagar has changed

Over the years, the guideline value for Yasmin Nagar has undergone several revisions. The 2007 revision set the value at Rs 123 per sq.ft, which increased significantly to Rs 500 per sq.ft in both the 2012 and 2023 revisions. The 2017 revision showed a decrease to Rs 335 per sq.ft, before returning to Rs 500 per sq.ft in 2023. The register has no figure for the years 2002 and 2003.

From 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Notably, the overall change from the 2007 revision to the 2024 revision is an increase of 307%, with the current rate remaining unchanged from 2023 to 2024.

Guideline values in Vedanareyanapuram

In Vedanareyanapuram, there are 31 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,050 per sq.ft, with a median value of Rs 600 per sq.ft. Yasmin Nagar's 2024 figure is below this median.

• Vinayaga Nagar: Rs 900 per sq.ft (2024)
• Vasantham nagar: Rs 600 per sq.ft (2024)
• Valmigi nagar: Rs 400 per sq.ft (2024)
• Thulasinga Nagar: Rs 400 per sq.ft (2024)
• Thendral Nagar: Rs 600 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Yasmin Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to 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 Yasmin Nagar?

The Sub Registrar Office that covers Yasmin Nagar is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Vedanareyanapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Vedanareyanapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Yasmin Nagar?

The current guideline value of Yasmin Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft. The value increased from Rs 123 per sq.ft in 2007 to Rs 500 in 2012 and again in 2023.

What are the other guideline values in Vedanareyanapuram?

In Vedanareyanapuram, other streets have guideline values ranging from Rs 400 to Rs 2,050 per sq.ft. The median guideline value in the village is Rs 600 per sq.ft.

What is the stamp duty for property in Yasmin Nagar?

The stamp duty for property in Yasmin Nagar is 7% of the guideline value. For a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000.

Where is the Sub Registrar Office for Yasmin Nagar located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Yasmin Nagar.