Guideline Value for Sri Varasakthi Vinayagar Nagar

Sri Varasakthi Vinayagar Nagar guideline value

The current guideline value of Sri Varasakthi Vinayagar Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Neelamangalam village and falls under the Gooduvancheri SRO. The land classification for this locality is Residential Class IV Type - II.

How the guideline value of Sri Varasakthi Vinayagar Nagar has changed

The guideline value for Sri Varasakthi Vinayagar Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 125 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2012, marking a 380% increase. However, from 2012 to 2017, it decreased to Rs 402 per sq.ft, a reduction of 33%. The value then rose again to Rs 600 per sq.ft in 2023 and remained the same in 2024, showing no change between these two revisions.

For the years 2003 and 2002, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value among these streets is Rs 600 per sq.ft, which is equal to the current guideline value of Sri Varasakthi Vinayagar Nagar.

• Sumathi Square: Rs 500 per sq.ft (2024)
• Sundaram Nagar: Rs 600 per sq.ft (2024)
• S.V.P. Garden: Rs 500 per sq.ft (2024)
• Sri Neelagandeswarar Nagar: Rs 1,200 per sq.ft (2024)
• Sri Muppathamman Nagar: Rs 600 per sq.ft (2024)
• SRI Mayil vaganam Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Varasakthi Vinayagar Nagar

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 is charged at 7%, resulting in Rs 42,000, while the registration fee at 2% amounts to Rs 12,000. Therefore, the total cost for stamp duty and registration fee together is 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Varasakthi Vinayagar Nagar?

The Sub Registrar Office that covers Sri Varasakthi Vinayagar Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Neelamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on current market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of their financial obligations during the registration process, making it essential to consider the guideline value when planning any real estate transaction.

Frequently asked questions

What is the current guideline value of Sri Varasakthi Vinayagar Nagar?

The current guideline value of Sri Varasakthi Vinayagar Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 125 per sq.ft in 2007, rising to Rs 600 in 2012, then falling to Rs 402 in 2017, and returning to Rs 600 in both 2023 and 2024.

What is the land classification of Sri Varasakthi Vinayagar Nagar?

Sri Varasakthi Vinayagar Nagar is classified as Residential Class IV Type - II, which indicates its suitability for residential development.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sri Varasakthi Vinayagar Nagar?

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