Guideline Value for vasavi nagar

Vasavi Nagar guideline value

The current guideline value of Vasavi Nagar, located in Santhavellur_C village under the Sunguvarchattram SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area 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 2017 revision set the value at Rs 469 per sq.ft. In the following revisions, the guideline value remained unchanged at Rs 700 per sq.ft for both 2023 and 2024, reflecting a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The consistent value of Rs 700 per sq.ft from 2023 to 2024 indicates stability in the guideline value during this period.

Guideline values in Santhavellur_C

In Santhavellur_C, there are 52 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 200 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Vasavi Nagar's 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)
• Sunguvarchitram Walajabad Main Road: Rs 1,750 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 amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees to Rs 63,000. 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 Vasavi Nagar?

The Sub Registrar Office covering Vasavi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can find your SRO online.

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

The guideline value is a crucial factor in property transactions in Santhavellur_C. It serves as a benchmark for determining the value of properties during registration, ensuring that both buyers and sellers have a clear understanding of the property's worth based on the official register.

When registering a property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the transaction is compliant with local regulations, providing transparency and fairness in the property market.

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 has remained at Rs 700 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 469 per sq.ft in 2017 to 2023.

What is the land classification of Vasavi Nagar?

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

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at Rs 700 per sq.ft, the total fees would amount to Rs 63,000.

Which office handles property registrations for Vasavi Nagar?

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