Guideline Value for Vanavan Nagar Extention

Vanavan Nagar Extention guideline value

The current guideline value of Vanavan Nagar Extention is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Puthagaram village under the Ambattur SRO, classified as Residential Special Type - III.

How the guideline value of Vanavan Nagar Extention has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the guideline value rose to Rs 2,200 per sq.ft in both the 2023 and 2024 revisions, showing no change from 2023 to 2024, and a significant increase of 49% from 2017 to 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, comparing the 2012 revision to the 2024 revision, the guideline value remains unchanged at Rs 2,200 per sq.ft. The changes reflect fluctuations in the property market over the years, particularly the notable increase from 2017 to 2023.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value for Vanavan Nagar Extention is above this median.

• Vanavan Nagar: Rs 2,200 per sq.ft (2024)
• Valluvar Street: Rs 1,600 per sq.ft (2024)
• Vallalar Street: Rs 1,600 per sq.ft (2024)
• Uma Nagar: Rs 1,900 per sq.ft (2024)
• Velmurugan Nagar: Rs 2,201 per sq.ft (2024)
• Velmurugan Nagar extention: Rs 2,201 per sq.ft (2024)

Stamp duty and registration fee for property in Vanavan Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vanavan Nagar Extention?

The Sub Registrar Office that covers Vanavan Nagar Extention is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthagaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for tax purposes and maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Vanavan Nagar Extention?

The current guideline value of Vanavan Nagar Extention is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a significant increase from Rs 1,474 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2023 and 2024. The value remained unchanged from 2023 to 2024.

What are the guideline values of other streets in Puthagaram?

Other streets in Puthagaram have varying guideline values, with rates ranging from Rs 1,200 to Rs 3,800 per sq.ft. For example, Valluvar Street and Vallalar Street both have a guideline value of Rs 1,600 per sq.ft.

What fees are associated with buying property in Vanavan Nagar Extention?

When buying property in Vanavan Nagar Extention, buyers should be prepared to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for Vanavan Nagar Extention?

The Sub Registrar Office for Vanavan Nagar Extention is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.