Guideline Value for vasan nagar phase 1

Vasan Nagar Phase 1 guideline value

The current guideline value for Vasan Nagar Phase 1 is Rs 600 per sq.ft. This property is located in Nenmeli village under the Chengleput Joint I SRO, classified as Mixed Type - III land.

How the guideline value of Vasan Nagar Phase 1 has changed

The guideline value for Vasan Nagar Phase 1 has seen several revisions over the years. In the 2012 revision, the value was Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 600 per sq.ft again in 2023. The most recent revision in 2024 also maintains this value at Rs 600 per sq.ft, indicating no change from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%.

Guideline values in Nenmeli

Nenmeli village has 53 streets under the Chengleput Joint I SRO, with 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 612 per sq.ft, placing Vasan Nagar Phase 1 below this median.

• Vasan Nagar Phase 2: Rs 600 per sq.ft (2024)
• Vasan Avenue: 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 Nagar Phase 1

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the 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, totaling 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 to estimate your costs.

Which Sub Registrar Office covers Vasan Nagar Phase 1?

The Chengleput Joint I Sub Registrar Office covers Vasan Nagar Phase 1. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is a crucial factor when registering property transactions in Nenmeli. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that these costs are proportionate to the property's worth.

When buying or selling property, the guideline value helps provide transparency in the transaction process. It serves as a reference point for both buyers and sellers, ensuring that the property is valued appropriately during registration.

Frequently asked questions

What is the current guideline value for Vasan Nagar Phase 1?

The current guideline value for Vasan Nagar Phase 1 is Rs 600 per sq.ft, 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 from 2012 to 2024, with a significant increase of 49% from 2017 to 2023. There were no figures available for the years 2002, 2003, and 2007.

What is the land classification for Vasan Nagar Phase 1?

Vasan Nagar Phase 1 is classified as Mixed Type - III land according to the Chengleput Joint I SRO.

Where can I find the Chengleput Joint I Sub Registrar Office?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Vasan Nagar Phase 1?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000.