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 locality is situated in Vilakkupattu village under the Redhills SRO and is classified as Mixed Type - I land.

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. Starting from the 2003 revision, the value was Rs 181 per sq.ft. It rose significantly to Rs 600 per sq.ft in 2007, which was an increase of 231%. The 2012 revision saw a further increase to Rs 2,000 per sq.ft, marking a substantial jump of 233%. However, the value dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33% from the previous revision. In 2023, the guideline value was set at Rs 2,000 per sq.ft, and then it increased to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1115%. It is important to note that there is no figure available for the year 2002 for this street in the register.

Guideline values in Vilakkupattu

In Vilakkupattu, there are five streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 2,200 per sq.ft, with the median value being Rs 2,200 per sq.ft. V.S. Mani Nagar's 2024 figure matches this median value.

• V.S. Mani Nagar Annex: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Vilakkupattu. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

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 181 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1115% over this period.

What factors influence the guideline value?

The guideline value is determined by revisions made by the Registration Department, which considers various factors such as location, land classification, and market conditions.

What are the stamp duty rates applicable in V.S. Mani Nagar?

The stamp duty rate in V.S. Mani Nagar is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Sub Registrar Office for V.S. Mani Nagar?

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