Guideline Value for VANAVIL NAGAR

Vanavil Nagar guideline value

The current guideline value of Vanavil Nagar in Vellathukottai village is Rs 100 per sq.ft, effective from 1 July 2024. This property falls under the Oothukkottai SRO and is classified as Residential Class I Type - I.

How the guideline value of Vanavil Nagar has changed

The guideline value for Vanavil Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 80 per sq.ft, which decreased to Rs 54 per sq.ft in 2017. From 2017 to 2023, there was a significant increase of 85%, bringing the value back to Rs 100 per sq.ft, where it remained unchanged in the 2024 revision.

Notably, the revisions for the years 2002, 2003, and 2007 do not have figures available for this street. Overall, from 2012 to 2024, the guideline value increased by 25%.

Guideline values in Vellathukottai

In Vellathukottai, there are seven streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median value for these streets is also Rs 100 per sq.ft, making Vanavil Nagar's 2024 figure equal to this median.

• Valluvan Vasuki Nagar: Rs 100 per sq.ft (2024)
• Sundarambal Nagar: Rs 100 per sq.ft (2024)
• Subramaniyam Nagar Phase-I: Rs 100 per sq.ft (2024)
• Subramaniyam Nagar Phase-3: Rs 100 per sq.ft (2024)
• Subramaniyam Nagar-II: Rs 100 per sq.ft (2024)
• Sundarambal Nagar Stage I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Vanavil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. 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 to estimate your fees.

Which Sub Registrar Office covers Vanavil Nagar?

The Vanavil Nagar area falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark. Buyers and sellers must be aware of this value as it influences the overall cost of the transaction, including the applicable taxes and fees.

Frequently asked questions

What is the current guideline value of Vanavil Nagar?

The current guideline value of Vanavil Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2012 to Rs 54 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What is the registration office for Vanavil Nagar?

The Oothukkottai Sub Registrar Office covers Vanavil Nagar, located near the government hospital in Uthukottai, Chennai 602026.

How is stamp duty calculated for properties in Vanavil Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 100 per sq.ft would incur a total guideline value of Rs 1,00,000, leading to a stamp duty of Rs 7,000.

What other streets have the same guideline value in Vellathukottai?

Other streets in Vellathukottai under the Oothukkottai SRO also have a guideline value of Rs 100 per sq.ft. These include Valluvan Vasuki Nagar, Sundarambal Nagar, and several phases of Subramaniyam Nagar.