Guideline Value for V.G.N MAHALAKSHMI NAGAR PHASE-XIV

V.G.N Mahalakshmi Nagar Phase-Xiv guideline value

The current guideline value for V.G.N Mahalakshmi Nagar Phase-Xiv is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is located in 44.Ayanambakkam village under the Konnur SRO and is classified as Residential Class II Type - IV.

How the guideline value of V.G.N Mahalakshmi Nagar Phase-Xiv has changed

In the 2017 revision, the guideline value for V.G.N Mahalakshmi Nagar Phase-Xiv was Rs 5,000 per sq.ft. The same value was maintained in the 2023 revision, and the 2024 revision also reflects a guideline value of Rs 5,000 per sq.ft. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

From 2017 to 2024, there has been no change in the guideline value, with an overall change of +0% across the revisions from 2017 to 2024. Additionally, the transition from 2023 to 2024 also shows a change of +0%.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. The guideline value for V.G.N Mahalakshmi Nagar Phase-Xiv is above this median, indicating a higher valuation compared to many other streets in the area.

• VGN Mahalakshmi Nagr Ext VII: Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Phase-XI: Rs 7,463 per sq.ft (2024)
• VGN Mahalakshmi Nagr Ext VIII: Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N Mahalakshmi Nagar Phase-Xiv

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, making the total fees Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.N Mahalakshmi Nagar Phase-Xiv?

The V.G.N Mahalakshmi Nagar Phase-Xiv falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value is a crucial factor in the registration process of property transactions in 44.Ayanambakkam. It serves as the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of V.G.N Mahalakshmi Nagar Phase-Xiv?

The current guideline value of V.G.N Mahalakshmi Nagar Phase-Xiv is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained consistent at Rs 5,000 per sq.ft since the 2017 revision, with no changes noted in the subsequent revisions of 2023 and 2024.

What is the land classification for V.G.N Mahalakshmi Nagar Phase-Xiv?

V.G.N Mahalakshmi Nagar Phase-Xiv is classified as Residential Class II Type - IV.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for properties in V.G.N Mahalakshmi Nagar Phase-Xiv?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000.