Guideline Value for VANASAKTHI NAGAR (MADHANAKUPPAM)

Vanasakthi Nagar (Madhanakuppam) guideline value

The current guideline value of Vanasakthi Nagar (Madhanakuppam) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Korattur village and falls under the Villivakkam SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Vanasakthi Nagar (Madhanakuppam) has changed

Over the years, the guideline value of Vanasakthi Nagar (Madhanakuppam) has seen several revisions. The 2012 revision set the guideline value at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. The value then increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, it reached Rs 1,300 per sq.ft in the 2024 revision. The changes between these revisions include a -33% drop from 2012 to 2017, a 49% increase from 2017 to 2023, and an 8% increase from 2023 to 2024.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Vanasakthi Nagar (Madhanakuppam) at Rs 1,300 per sq.ft is below this median.

• Vanasakthi Nagar Extn Phase V: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Phase I: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase II: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Extn Phase IV: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Phase III: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase IV: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Vanasakthi Nagar (Madhanakuppam)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total fees together to Rs 1,17,000. 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 details.

Which Sub Registrar Office covers Vanasakthi Nagar (Madhanakuppam)?

The Sub Registrar Office that covers Vanasakthi Nagar (Madhanakuppam) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is sold, the guideline value is considered to ensure that the transaction is in compliance with legal requirements. Buyers and sellers must be aware of these values to accurately calculate their costs during the buying or selling process.

Frequently asked questions

What is the current guideline value of Vanasakthi Nagar (Madhanakuppam)?

The current guideline value of Vanasakthi Nagar (Madhanakuppam) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, an increase of 8%. It was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification for Vanasakthi Nagar (Madhanakuppam)?

The land classification for Vanasakthi Nagar (Madhanakuppam) is Residential Class IV Type - I.

What are the registration fees for property in Vanasakthi Nagar (Madhanakuppam)?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Vanasakthi Nagar (Madhanakuppam)?

The Villivakkam Sub Registrar Office handles registrations for Vanasakthi Nagar (Madhanakuppam), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.