Guideline Value for VANASAKTHI NAGAR PHASE IV

Vanasakthi Nagar Phase IV guideline value

The current guideline value of Vanasakthi Nagar Phase IV 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 area is Residential Class II Type - II.

How the guideline value of Vanasakthi Nagar Phase IV has changed

The guideline value for Vanasakthi Nagar Phase IV has seen several revisions over the years. In 2007, the guideline value was Rs 1,300 per sq.ft, which increased to Rs 2,700 per sq.ft in 2012, marking an increase of 108%. However, in 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of 33%. The value then rose significantly to Rs 2,700 per sq.ft in 2023, and currently stands at Rs 2,900 per sq.ft effective from 1 July 2024, which is a 7% increase from the previous year.

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

Guideline values in Korattur

In Korattur, there are a total of 617 streets under the Villivakkam SRO, with guideline values for 2024 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, making the current figure of Rs 2,900 per sq.ft for Vanasakthi Nagar Phase IV above the median.

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

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 amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000. Together, the total charges would be Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanasakthi Nagar Phase IV?

The Sub Registrar Office that covers Vanasakthi Nagar Phase IV 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 critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,300 per sq.ft in 2007, increasing to Rs 2,700 in 2012, then decreasing to Rs 1,809 in 2017, rising to Rs 2,700 in 2023, and finally reaching Rs 2,900 in 2024.

What is the land classification for Vanasakthi Nagar Phase IV?

The land classification for Vanasakthi Nagar Phase IV is Residential Class II Type - II.

Where can I find the Sub Registrar Office for Vanasakthi Nagar Phase IV?

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

How is the stamp duty calculated for properties in Vanasakthi Nagar Phase IV?

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 charges would include a stamp duty of 7% and a registration fee of 2% on the guideline value.