Guideline Value for V.G.N. MANAI PIRIVU

V.G.N. Manai Pirivu guideline value

The current guideline value for V.G.N. Manai Pirivu is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Kolathuvancheri village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of V.G.N. Manai Pirivu has changed

The guideline value for V.G.N. Manai Pirivu has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 500 per sq.ft. This value increased significantly to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, representing a 33% drop. The value then rose to Rs 1,500 per sq.ft in 2023, and further increased to the current value of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathuvancheri

In Kolathuvancheri, there are 146 streets under the Chennai South Joint I SRO with a guideline value for 2024 ranging from Rs 660 to Rs 4,600 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which is equal to the current value for V.G.N. Manai Pirivu.

• Venkateswar Avenue: Rs 1,650 per sq.ft (2024)
• Vijayalakshmi Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Vijayalakshmi Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Vijayalakshmi Avenue / Nagar: Rs 2,200 per sq.ft (2024)
• Visuvasa Nagar: Rs 990 per sq.ft (2024)
• V.O.C Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N. Manai Pirivu

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total charges to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V.G.N. Manai Pirivu?

The V.G.N. Manai Pirivu area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Kolathuvancheri. It is used as a basis for calculating stamp duty and registration fees, which are mandatory during the registration process. Buyers must be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in property dealings. It is essential for both buyers and sellers to understand this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of V.G.N. Manai Pirivu?

The current guideline value of V.G.N. Manai Pirivu is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with various revisions in between, including a significant increase of 200% from 2007 to 2012.

What is the median guideline value in Kolathuvancheri?

The median guideline value in Kolathuvancheri is Rs 1,650 per sq.ft, which is the same as the current value for V.G.N. Manai Pirivu.

What are the stamp duty and registration fees for V.G.N. Manai Pirivu?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for V.G.N. Manai Pirivu?

The Chennai South Joint I Sub Registrar Office handles registrations for V.G.N. Manai Pirivu, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.