Guideline Value for vasan avenue

Vasan Avenue guideline value

The current guideline value of Vasan Avenue, located in Nenmeli village, is Rs 600 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Chengleput Joint I SRO and is classified as Mixed Type - III land.

How the guideline value of Vasan Avenue has changed

The guideline value for Vasan Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision marked a significant increase to Rs 402 per sq.ft, reflecting a 49% increase from the previous revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but overall, from 2012 to 2024, the guideline value has remained constant at Rs 600 per sq.ft. The 2024 revision shows no change from the 2023 figure, maintaining the current rate.

Guideline values in Nenmeli

In Nenmeli village, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 612 per sq.ft, indicating that Vasan Avenue's current value is below this median.

• Vasan Nagar Phase 1: Rs 600 per sq.ft (2024)
• Vasan Nagar Phase 2: Rs 600 per sq.ft (2024)
• V.V.P.Garden: Rs 550 per sq.ft (2024)
• Wood Haven: Rs 1,500 per sq.ft (2024)
• Thangaraj City Extension: Rs 800 per sq.ft (2024)
• Thangaraj City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Vasan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. 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 precise calculations.

Which Sub Registrar Office covers Vasan Avenue?

The Sub Registrar Office that covers Vasan Avenue 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 Nenmeli

The guideline value is a crucial factor when buying or selling property in Nenmeli. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, 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 based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Vasan Avenue?

The current guideline value of Vasan Avenue is Rs 600 per sq.ft, as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since the 2012 revision, with a notable increase to Rs 402 per sq.ft in 2017. There were no changes from 2023 to 2024.

What are the guideline values of other streets in Nenmeli?

Other streets in Nenmeli have varying guideline values, with rates ranging from Rs 400 to Rs 2,500 per sq.ft. The median value is Rs 612 per sq.ft.

How is stamp duty calculated for properties in Vasan Avenue?

Stamp duty for properties in Vasan Avenue is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft would incur a total stamp duty of Rs 42,000.

Where can I find the Sub Registrar Office for Vasan Avenue?

The Sub Registrar Office for Vasan Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information online.