Guideline Value for vasan nagar phase 2

Vasan Nagar Phase 2 guideline value

The current guideline value for Vasan Nagar Phase 2 is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Nenmeli village under the Chengleput Joint I SRO, classified as Mixed Type - III.

How the guideline value of Vasan Nagar Phase 2 has changed

The guideline value for Vasan Nagar Phase 2 has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 600 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the value was Rs 402 per sq.ft, indicating a significant increase of 49% from 2017 to 2023. In 2012, the value was also Rs 600 per sq.ft, showing a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 600 per sq.ft.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nenmeli

In Nenmeli, 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, with a median value of Rs 612 per sq.ft. The guideline value for Vasan Nagar Phase 2 is below this median.

• Vasan Nagar Phase 1: 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 2

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

Which Sub Registrar Office covers Vasan Nagar Phase 2?

The Sub Registrar Office covering Vasan Nagar Phase 2 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 during the registration of property transactions in Nenmeli. It helps determine the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property in Nenmeli, it is essential to be aware of the current guideline value to ensure compliance with legal requirements and to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value for Vasan Nagar Phase 2?

The current guideline value for Vasan Nagar Phase 2 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 Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023.

What are the other streets in Nenmeli with their guideline values?

Other streets in Nenmeli include Vasan Nagar Phase 1 and Vasan Avenue at Rs 600 per sq.ft, V.V.P.Garden at Rs 550 per sq.ft, Wood Haven at Rs 1,500 per sq.ft, and Thangaraj City and Thangaraj City Extension at Rs 800 per sq.ft.

What is the stamp duty for a property in Vasan Nagar Phase 2?

The stamp duty for a property in Vasan Nagar Phase 2 is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 42,000.

Which office handles property registrations in Vasan Nagar Phase 2?

The Chengleput Joint I Sub Registrar Office handles property registrations for Vasan Nagar Phase 2, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.