Guideline Value for Vanavan Nagar

Vanavan Nagar guideline value

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

How the guideline value of Vanavan Nagar has changed

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,474 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 2,200 per sq.ft, and this figure has been maintained through to the 2024 revision, showing a 49% increase from the 2017 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained at Rs 2,200 per sq.ft.

Guideline values in Puthagaram

Puthagaram village has a total of 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for the village is Rs 1,900 per sq.ft, making Vanavan Nagar's 2024 figure of Rs 2,200 per sq.ft above this median.

• Vanavan Nagar Extention: 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

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vanavan Nagar?

The Sub Registrar Office covering Vanavan Nagar 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 of property transactions in Puthagaram. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of this value to ensure they are not overpaying and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Vanavan Nagar?

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

How has the guideline value changed over the years?

The guideline value of Vanavan Nagar has seen various changes, with the most recent figures being Rs 2,200 per sq.ft in both 2023 and 2024. The value was Rs 1,474 per sq.ft in 2017, showing a significant increase in the subsequent revisions.

What are the other streets in Puthagaram and their guideline values?

Other streets in Puthagaram include Vanavan Nagar Extention at Rs 2,200 per sq.ft, Valluvar Street and Vallalar Street both at Rs 1,600 per sq.ft, Uma Nagar at Rs 1,900 per sq.ft, and Velmurugan Nagar and its extension at Rs 2,201 per sq.ft.

How is stamp duty calculated in Vanavan Nagar?

Stamp duty in Vanavan Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.

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

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