Guideline Value for V.S. Mani Nagar Annex

V.S. Mani Nagar Annex guideline value

The current guideline value of V.S. Mani Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Vilakkupattu village under the Redhills SRO, classified as Mixed Type - I land.

How the guideline value of V.S. Mani Nagar Annex has changed

The guideline value for V.S. Mani Nagar Annex has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 233%. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 2,000 per sq.ft in 2023, and most recently to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 267%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Vilakkupattu

In Vilakkupattu, five streets carry a 2024 guideline value, ranging from Rs 1,650 to Rs 2,200 per sq.ft, with the median being Rs 2,200 per sq.ft. V.S. Mani Nagar Annex's 2024 figure matches this median value.

• V.S. Mani Nagar: Rs 2,200 per sq.ft (2024)
• V.S. Mani Ring Road Co-Operative Housing Sector: Rs 2,200 per sq.ft (2024)
• Sri Balaji Nagar Part 1B: Rs 2,200 per sq.ft (2024)
• Madhavaram-Redhills Salai: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.S. Mani Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Please 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 details.

Which Sub Registrar Office covers V.S. Mani Nagar Annex?

The V.S. Mani Nagar Annex falls under the jurisdiction of the Redhills Sub Registrar Office located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vilakkupattu, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, ensuring that both the buyer and seller are aware of the financial implications of the transaction.

When buying or selling property, it is essential to consult the guideline value to understand the costs involved. The registration office relies on this value to assess the appropriate fees, making it a vital aspect of the property registration process.

Frequently asked questions

What is the current guideline value of V.S. Mani Nagar Annex?

The current guideline value of V.S. Mani Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 267% over the years.

What is the registration office for V.S. Mani Nagar Annex?

The registration office for V.S. Mani Nagar Annex is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in V.S. Mani Nagar Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.

What are the other streets in Vilakkupattu with guideline values?

Other streets in Vilakkupattu under the Redhills SRO include V.S. Mani Nagar, V.S. Mani Ring Road Co-Operative Housing Sector, Sri Balaji Nagar Part 1B, and Madhavaram-Redhills Salai, with values ranging from Rs 1,650 to Rs 2,200 per sq.ft.