Guideline Value for Vanavil Nagar

Vanavil Nagar guideline value

The current guideline value of Vanavil Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area falls under Polacheri village and is governed by the Gooduvancheri SRO. The land classification for this locality is Residential Special Type - II.

How the guideline value of Vanavil Nagar has changed

The guideline value of Vanavil Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 269 per sq.ft. This figure saw a significant increase to Rs 1,200 per sq.ft in the 2012 revision, marking a rise of 346%. However, from 2012 to 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The most recent revision in 2023 brought the guideline value back up to Rs 1,200 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 346%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Polacheri

Currently, there are no specific guideline values provided for other streets in Polacheri under the Gooduvancheri SRO. Vanavil Nagar's guideline value stands at Rs 1,200 per sq.ft.

Stamp duty and registration fee for property in Vanavil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would amount to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vanavil Nagar?

The Sub Registrar Office that covers Vanavil Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Polacheri, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is registered accurately.

During the registration process, the guideline value serves as a benchmark for assessing the property’s value. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vanavil Nagar?

The current guideline value of Vanavil Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 269 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then decreased to Rs 804 per sq.ft in 2017, and finally returned to Rs 1,200 per sq.ft in 2023.

What is the land classification for Vanavil Nagar?

Vanavil Nagar is classified as Residential Special Type - II, which indicates its designated use for residential purposes.

Where can I find the Gooduvancheri SRO?

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

How are stamp duty and registration fees calculated?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,08,000.