Guideline Value for VANASAKTHI NAGAR PHASE III

Vanasakthi Nagar Phase III guideline value

The current guideline value of Vanasakthi Nagar Phase III is Rs 2,900 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 II Type - II.

How the guideline value of Vanasakthi Nagar Phase III has changed

The guideline value for Vanasakthi Nagar Phase III has seen several revisions over the years. In 2007, the guideline value was Rs 1,300 per sq.ft. This figure increased significantly to Rs 2,700 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. The most recent revision in 2024 raised the value to Rs 2,900 per sq.ft, marking a 7% increase from the 2023 figure.

Overall, from 2007 to 2024, the guideline value has increased by 123%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft as of 2024. The median guideline value in this area is Rs 2,500 per sq.ft, positioning Vanasakthi Nagar Phase III above this median.

• Vanasakthi Nagar Phase II: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase IV: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase I: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar Phase V: Rs 2,900 per sq.ft (2024)
• Vanasakthi Nagar (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• Vanasakthi Nagar Extn Phase V: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vanasakthi Nagar Phase III

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total charges to Rs 2,61,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vanasakthi Nagar Phase III?

The Sub Registrar Office that covers Vanasakthi Nagar Phase III is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 plays a crucial role during the registration of property transactions in Korattur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a value recognized by the authorities.

When buying or selling property, the guideline value ensures transparency and helps prevent underreporting of property values. Buyers and sellers should be aware of the current guideline value to understand the financial implications during the registration process.

Frequently asked questions

What is the current guideline value of Vanasakthi Nagar Phase III?

The current guideline value of Vanasakthi Nagar Phase III is Rs 2,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,300 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 123% over the years.

What are the stamp duty and registration fees for property in Vanasakthi Nagar Phase III?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers Vanasakthi Nagar Phase III, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Vanasakthi Nagar Phase III?

The land classification for Vanasakthi Nagar Phase III is Residential Class II Type - II, indicating its designated use for residential purposes.