Guideline Value for VGN MAHALAKSHMI NAGAR PHASE-XI

Vgn Mahalakshmi Nagar Phase-XI guideline value

The current guideline value of Vgn Mahalakshmi Nagar Phase-XI is Rs 7,463 per sq.ft, effective from 1 July 2024. This property is located in 44.Ayanambakkam village, under the Konnur SRO, and falls under the Residential Class II Type - III land classification.

How the guideline value of Vgn Mahalakshmi Nagar Phase-XI has changed

The guideline value for Vgn Mahalakshmi Nagar Phase-XI has undergone several revisions over the years. From the 2017 revision, which set the value at Rs 5,000 per sq.ft, there has been a substantial increase of 49% to the current rate of Rs 7,463 per sq.ft in 2024. The 2023 revision also recorded the same value of Rs 7,463 per sq.ft, indicating no change from the previous year. The register has no figure for this street for the years 2002, 2003, 2007, and 2012.

Overall, the change from the 2017 revision to the current 2024 revision reflects a 49% increase. This consistent rise highlights the evolving property landscape in the area, with the guideline value remaining stable between 2023 and 2024.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. Vgn Mahalakshmi Nagar Phase-XI's 2024 figure is above this median.

• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• V.G.N Mahalakshmi Nagar Phase-Xiv: Rs 5,000 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extension-X: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagr Ext VII: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Vgn Mahalakshmi Nagar Phase-XI

For a 1,000 sq.ft plot at the current rate of Rs 7,463 per sq.ft, the guideline value would be Rs 74,63,000. The stamp duty at 7% would amount to Rs 5,22,410, and the registration fee at 2% would be Rs 1,49,260, bringing the total to Rs 6,71,670. It is important to note that 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 precise calculations.

Which Sub Registrar Office covers Vgn Mahalakshmi Nagar Phase-XI?

The Vgn Mahalakshmi Nagar Phase-XI is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

When buying or selling property in 44.Ayanambakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty applicable. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures transparency in property transactions. The registration process requires that the property is registered at or above the guideline value, which helps in maintaining a standard in property dealings.

Frequently asked questions

What is the current guideline value of Vgn Mahalakshmi Nagar Phase-XI?

The current guideline value of Vgn Mahalakshmi Nagar Phase-XI is Rs 7,463 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49% from Rs 5,000 per sq.ft to Rs 7,463 per sq.ft in 2024. The value remained the same from 2023 to 2024.

What are the guideline values of other streets in 44.Ayanambakkam?

Other streets in 44.Ayanambakkam have varying guideline values ranging from Rs 801 to Rs 9,702 per sq.ft, with a median value of Rs 1,300 per sq.ft. Vgn Mahalakshmi Nagar Phase-XI is above this median.

What is the stamp duty for property in Vgn Mahalakshmi Nagar Phase-XI?

The stamp duty for property in Vgn Mahalakshmi Nagar Phase-XI is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 5,22,410.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the Konnur Sub Registrar Office located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. More information is available online.