Guideline Value for V.NEST

V.Nest guideline value

The current guideline value of V.Nest in Pinchivakkam village is Rs 270 per sq.ft, effective from 1 July 2024. This area falls under the Perambakkam SRO and is classified as Residential Special Type - III.

How the guideline value of V.Nest has changed

The guideline value for V.Nest has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 270 per sq.ft, an increase from Rs 250 per sq.ft in the 2023 revision. Prior to that, the 2017 revision also recorded Rs 250 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 2023, the guideline value remained unchanged at Rs 250 per sq.ft. However, from 2023 to 2024, there was an increase of 8%, bringing the value to Rs 270 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 8%.

Guideline values in Pinchivakkam

In Pinchivakkam, there are seven streets under the Perambakkam SRO that carry a 2024 guideline value ranging from Rs 270 to Rs 600 per sq.ft. The median value among these streets is Rs 469 per sq.ft, making V.Nest's 2024 value below that median.

• Srinidhi Avenue: Rs 300 per sq.ft (2024)
• Palani Nagar: Rs 600 per sq.ft (2024)
• Mount Sinai: Rs 469 per sq.ft (2024)
• Ellammal Nagar: Rs 270 per sq.ft (2024)
• Srinivasa Avenue Part I: Rs 600 per sq.ft (2024)
• Srinivasa Avenue Part II: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in V.Nest

For a 1,000 sq.ft plot at the current guideline value of Rs 270 per sq.ft, the total guideline value would be Rs 2,70,000. The stamp duty at 7% would amount to Rs 18,900, and the registration fee at 2% would be Rs 5,400. Together, the total cost for stamp duty and registration would be Rs 24,300. 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 information.

Which Sub Registrar Office covers V.Nest?

The Sub Registrar Office that covers V.Nest is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Pinchivakkam. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory costs associated with property transfer.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of V.Nest?

The current guideline value of V.Nest is Rs 270 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for V.Nest has increased from Rs 250 per sq.ft in 2023 to Rs 270 per sq.ft in 2024, marking an 8% increase. The value remained at Rs 250 per sq.ft from 2017 to 2023.

What are the other streets in Pinchivakkam and their guideline values?

Other streets in Pinchivakkam include Srinidhi Avenue at Rs 300 per sq.ft, Palani Nagar at Rs 600 per sq.ft, Mount Sinai at Rs 469 per sq.ft, Ellammal Nagar at Rs 270 per sq.ft, Srinivasa Avenue Part I at Rs 600 per sq.ft, and Srinivasa Avenue Part II at Rs 600 per sq.ft.

What fees are associated with buying property in V.Nest?

When buying property in V.Nest, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for V.Nest located?

The Sub Registrar Office for V.Nest is the Perambakkam Sub Registrar Office, located at Jothi Ramalinga Nagar, Near Post Office, Perambakkam, 631402, Chennai registration zone.