Guideline Value for Vani Nagar

Vani Nagar guideline value

The current guideline value of Vani Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vani Nagar has changed

The guideline value for Vani Nagar has seen significant changes over the years. In 2007, the value was Rs 650 per sq.ft, which increased dramatically to Rs 4,500 per sq.ft in both 2012 and 2023. The most recent revision in 2024 raised the guideline value to Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 662%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Vani Nagar's 2024 figure above this median.

• Vani Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Vanjinathan 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Vanjinathan 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Vanjinathan Street: Rs 3,850 per sq.ft (2024)
• Valliyammai Nagar main road: Rs 3,850 per sq.ft (2024)
• Valliyammai Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Vani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Vani Nagar?

The Sub Registrar Office that covers Vani Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and compliance with local regulations.

When buying or selling property in this area, it is essential to consider the guideline value as it directly influences the stamp duty and registration fees payable. Buyers should ensure they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vani Nagar?

The current guideline value of Vani Nagar is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 650 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 662% over this period.

What is the stamp duty for property in Vani Nagar?

The stamp duty for property in Vani Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500.

Where is the Sub Registrar Office for Vani Nagar located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets in Valasaravakkam have guideline values?

Other streets in Valasaravakkam include Vani Nagar Main Road at Rs 4,950 per sq.ft, and several streets at Rs 3,850 per sq.ft, such as Vanjinathan 1st Cross Street, Vanjinathan 2nd Cross Street, and Vanjinathan Street.