Guideline Value for VGN Mahalakshmi Nagr Ext VIII

VGN Mahalakshmi Nagr Ext VIII guideline value

The current guideline value of VGN Mahalakshmi Nagr Ext VIII is Rs 3,100 per sq.ft, effective from 1 July 2024. This property is located in 44.Ayanambakkam village under the Konnur SRO, classified as Residential Special Type - I.

How the guideline value of VGN Mahalakshmi Nagr Ext VIII has changed

The guideline value for VGN Mahalakshmi Nagr Ext VIII has undergone several revisions since 2017. In 2017, the value was Rs 1,943 per sq.ft, which increased to Rs 2,900 per sq.ft in 2023, marking a significant rise of 49%. As of the 2024 revision, the value has further increased to Rs 3,100 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO with a 2024 guideline value range from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, positioning VGN Mahalakshmi Nagr Ext VIII above this median.

• VGN Mahalakshmi Nagr Ext VII: Rs 3,100 per sq.ft (2024)
• V.G.N Mahalakshmi Nagar Phase-XIV: Rs 5,000 per sq.ft (2024)
• VGN Mahalakshmi Nagar Phase-XI: Rs 7,463 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (V): Rs 3,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn- IX: Rs 7,100 per sq.ft (2024)
• VGN Mahalakshmi Nagar Extn. (IV): Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in VGN Mahalakshmi Nagr Ext VIII

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 2,79,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers VGN Mahalakshmi Nagr Ext VIII?

The VGN Mahalakshmi Nagr Ext VIII 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in 44.Ayanambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded accurately.

When a property is sold, the sale price must be at least equal to the guideline value to avoid any legal complications. This ensures transparency in property transactions and helps maintain the integrity of the real estate market.

Frequently asked questions

What is the current guideline value of VGN Mahalakshmi Nagr Ext VIII?

The current guideline value of VGN Mahalakshmi Nagr Ext VIII is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,943 per sq.ft to Rs 3,100 per sq.ft in 2024, representing a total increase of 60% over this period.

What is the registration office for VGN Mahalakshmi Nagr Ext VIII?

The registration office covering VGN Mahalakshmi Nagr Ext VIII 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 rates applicable?

The stamp duty for properties in VGN Mahalakshmi Nagr Ext VIII is charged at 7% of the guideline value or the sale price, whichever is higher.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value for streets in 44.Ayanambakkam is Rs 1,300 per sq.ft, with VGN Mahalakshmi Nagr Ext VIII being above this median at Rs 3,100 per sq.ft.