Guideline Value for VGN Mahalakshmi Nagar Extn. (IV)

VGN Mahalakshmi Nagar Extn. (IV) guideline value

The current guideline value of VGN Mahalakshmi Nagar Extn. (IV) is Rs 3,100 per sq.ft, effective from 1 July 2024. This property is located in 44.Ayanambakkam village and falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of VGN Mahalakshmi Nagar Extn. (IV) has changed

Over the years, the guideline value of VGN Mahalakshmi Nagar Extn. (IV) has seen significant changes. The 2017 revision set the guideline value at Rs 1,943 per sq.ft, which increased to Rs 2,900 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 3,100 per sq.ft, marking a 7% increase from the previous year. It is noteworthy that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

In terms of overall growth, the guideline value has increased by 49% from 2017 to 2023 and by 60% from 2017 to 2024. This upward trend reflects the changing dynamics of property values in the area.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, indicating that VGN Mahalakshmi Nagar Extn. (IV) is above the median value. Below are the guideline values for other streets in 44.Ayanambakkam:

• VGN Mahalakshmi Nagar Extension-X: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)
• Vgn Mahalakshmi Nagar Phase-XI: Rs 7,463 per sq.ft (2024)
• V.G.N Mahalakshmi Nagar Phase-Xiv: Rs 5,000 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 Extn. (IV)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total charges to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VGN Mahalakshmi Nagar Extn. (IV)?

The VGN Mahalakshmi Nagar Extn. (IV) falls under 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property in 44.Ayanambakkam, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of VGN Mahalakshmi Nagar Extn. (IV)?

The current guideline value of VGN Mahalakshmi Nagar Extn. (IV) is Rs 3,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 60%, rising from Rs 1,943 per sq.ft to Rs 3,100 per sq.ft in 2024.

What is the registration office for VGN Mahalakshmi Nagar Extn. (IV)?

The registration office for VGN Mahalakshmi Nagar Extn. (IV) is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty and registration fees for a property in this area?

The stamp duty for a property valued at Rs 31,00,000 would be Rs 2,17,000, and the registration fee would be Rs 62,000, totaling Rs 2,79,000. This is based on the current guideline value of Rs 3,100 per sq.ft.

Where can I find more information about the guideline values in 44.Ayanambakkam?

More information about the guideline values in 44.Ayanambakkam can be found in the registration department's guideline value register (TNReginet) or by visiting the Konnur SRO.