Guideline Value for vasavi nagar

Vasavi Nagar guideline value

The current guideline value of Vasavi Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Santhavellur_B village under the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of Vasavi Nagar has changed

The guideline value for Vasavi Nagar has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 469 per sq.ft. This value increased to Rs 700 per sq.ft in the 2023 revision and remained unchanged in the 2024 revision, reflecting a 49% increase from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From the 2023 revision to the 2024 revision, there was no change in the guideline value, maintaining the rate at Rs 700 per sq.ft. This stability indicates a consistent valuation for the property in recent years.

Guideline values in Santhavellur_B

In Santhavellur_B, there are 55 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Vasavi Nagar's 2024 guideline value above this median.

• Vasuki nagar: Rs 700 per sq.ft (2024)
• varasithi Vinayagar Street: Rs 200 per sq.ft (2024)
• Venus Nagar: Rs 400 per sq.ft (2024)
• Vinatha Nagar: Rs 300 per sq.ft (2024)
• VMR Nagar: Rs 200 per sq.ft (2024)
• Theruveethiamman Kovil Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Vasavi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, leading to a total cost of Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasavi Nagar?

The Sub Registrar Office covering Vasavi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Santhavellur_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vasavi Nagar?

The current guideline value of Vasavi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vasavi Nagar has increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in both 2023 and 2024, representing a 49% increase overall from 2017 to 2024.

What is the land classification of Vasavi Nagar?

Vasavi Nagar is classified as Residential Special Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Vasavi Nagar?

For a 1,000 sq.ft plot at the guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000, with a stamp duty of Rs 49,000 and a registration fee of Rs 14,000, totaling Rs 63,000.

Which office handles registrations for Vasavi Nagar?

The Sunguvarchattram Sub Registrar Office handles registrations for Vasavi Nagar, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.