Guideline Value for Vamanan Nagar

Vamanan Nagar guideline value

The current guideline value of Vamanan Nagar, located in Neelamangalam village under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Vamanan Nagar has changed

In the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This remained unchanged in the subsequent revisions of 2017 and 2023, where it was also Rs 500 per sq.ft. However, the 2017 revision saw a significant increase from Rs 335 per sq.ft in 2017, marking a 49% rise. The 2024 revision has maintained the guideline value at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Vamanan Nagar. Overall, from 2012 to 2024, the guideline value has remained unchanged, reflecting a stable pricing structure in this locality.

Guideline values in Neelamangalam

In Neelamangalam, there are 41 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Vamanan Nagar's 2024 figure below this median.

• Vanitha Square: Rs 1,300 per sq.ft (2024)
• Varadappa Naicker Nagar: Rs 500 per sq.ft (2024)
• Tulsi Nagar: Rs 1,300 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 500 per sq.ft (2024)
• S.V.P. Garden: Rs 500 per sq.ft (2024)
• Sundaram Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Vamanan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, which equals Rs 35,000, and the registration fee at 2% amounts to Rs 10,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vamanan Nagar?

The Sub Registrar Office that covers Vamanan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Neelamangalam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vamanan Nagar?

The current guideline value of Vamanan Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since the 2012 revision, with a significant increase from Rs 335 per sq.ft in 2017. The 2024 revision shows no change from the previous year.

What is the land classification for Vamanan Nagar?

Vamanan Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 5,00,000, the stamp duty would be Rs 35,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.