Guideline Value for VANASAKTHI NAGAR EXTENSION PART II

Vanasakthi Nagar Extension Part II guideline value

The current guideline value for Vanasakthi Nagar Extension Part II is Rs 3,300 per sq.ft. This area is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this street is Residential Special Type - III.

How the guideline value of Vanasakthi Nagar Extension Part II has changed

The guideline value for Vanasakthi Nagar Extension Part II has undergone several revisions over the years. In 2012, the guideline value was set at Rs 3,000 per sq.ft. However, this figure dropped to Rs 2,010 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft. Notably, there are no figures available for this street for the years 2002, 2003, 2007, and 2023.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2024, there has been a significant increase of 64%. Overall, comparing the figures from 2012 to 2024, there has been a slight increase of 10% in the guideline value.

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. The median guideline value for these streets is Rs 2,500 per sq.ft, placing the guideline value for Vanasakthi Nagar Extension Part II above this median.

• Vanasakthi Nagar Extension Part V: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Extension Part VI: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Extn / Annex: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Extn Phase 1: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Extn Phase III: Rs 3,300 per sq.ft (2024)
• Vanasakthi Nagar Extn Phase IV: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vanasakthi Nagar Extension Part II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the 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 Vanasakthi Nagar Extension Part II?

The Sub Registrar Office covering Vanasakthi Nagar Extension Part II 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 it comes to registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Vanasakthi Nagar Extension Part II?

The current guideline value for Vanasakthi Nagar Extension Part II is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 3,000 per sq.ft to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification for Vanasakthi Nagar Extension Part II?

The land classification for Vanasakthi Nagar Extension Part II is Residential Special Type - III.

Where can I find the registration office for this area?

The registration office for Vanasakthi Nagar Extension Part II is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000 at 7%.