Guideline Value for VGN Mahalakshmi Nagar Extn. (V)

VGN Mahalakshmi Nagar Extn. (V) guideline value

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

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

The guideline value for VGN Mahalakshmi Nagar Extn. (V) has seen significant changes over the years. In the 2017 revision, the value was Rs 1,943 per sq.ft, which increased to Rs 2,900 per sq.ft in the 2023 revision. The latest 2024 revision has set the value at Rs 3,100 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 60%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was substantial at 49%, reflecting a significant upward trend in the guideline value.

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. The guideline value of VGN Mahalakshmi Nagar Extn. (V) is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value would be Rs 31,00,000. The stamp duty at 7% would amount to Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total cost for these fees to Rs 2,79,000. Please 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 for more detailed calculations.

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

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

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions reflect the prevailing market conditions.

When buying or selling a property, the guideline value is used to calculate applicable fees, such as stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of VGN Mahalakshmi Nagar Extn. (V) is Rs 3,100 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 1,943 per sq.ft in 2017 to Rs 3,100 per sq.ft in 2024, marking a total increase of 60% over this period.

What is the land classification for VGN Mahalakshmi Nagar Extn. (V)?

VGN Mahalakshmi Nagar Extn. (V) is classified as Residential Special Type - I.

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

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.