Guideline Value for V.S. Mani Nagar

V.S. Mani Nagar guideline value

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

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

The guideline value for V.S. Mani Nagar has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 1,465 per sq.ft. This was followed by a decrease in 2003 to Rs 181 per sq.ft. The value then increased significantly to Rs 600 per sq.ft in 2007, and further rose to Rs 2,000 per sq.ft in 2012. However, there was a notable decrease to Rs 1,340 per sq.ft in 2017, before increasing again to Rs 2,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 50%. The jump from 2023 to 2024 is 10%, while the rise from 2017 to 2023 is 49%. The value saw a significant increase of 233% from 2007 to 2012, and a 231% increase from 2003 to 2007. There was a decrease of 88% from 2002 to 2003, and a decline of 33% from 2012 to 2017. The register has no figures for the years not mentioned.

Guideline values in Puzhal

In Puzhal, there are a total of 270 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, placing V.S. Mani Nagar's 2024 figure above that median.

• V.S. Mani Ring Road Co-operative Housing Sector: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 1,100 per sq.ft (2024)
• Vishnu Nagar: Rs 1,100 per sq.ft (2024)
• Vionayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vinayagar Koil Street: Rs 1,650 per sq.ft (2024)
• Vijiya Avenue: Rs 1,102 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value would be 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.S. Mani Nagar is 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 Puzhal

The guideline value plays a crucial role in the registration of property transactions in Puzhal. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.S. Mani Nagar 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 significantly from Rs 1,465 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting various revisions over the years.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal for 2024 is Rs 1,102 per sq.ft, with V.S. Mani Nagar's value being above this median.

What are the stamp duty and registration fees for property in V.S. Mani Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000, based on the current guideline value of Rs 22,00,000.

Which office handles registrations for V.S. Mani Nagar?

The Redhills Sub Registrar Office handles registrations for V.S. Mani Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.