Guideline Value for Vendhan Nagar

Vendhan Nagar guideline value

The current guideline value of Vendhan Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area is located in Melakottyur village and falls under the Gooduvancheri SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Vendhan Nagar has changed

The guideline value of Vendhan Nagar has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 160 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 525%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, which was a drop of 33%. The most recent revision in 2023 set the guideline value back to Rs 1,000 per sq.ft, reflecting an increase of 49% from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 525%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 in the register for this street.

Guideline values in Melakottyur

Currently, there are no specific guideline values provided for other streets in Melakottyur under the Gooduvancheri SRO. Vendhan Nagar is the only street with a noted guideline value at this time.

Stamp duty and registration fee for property in Vendhan Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vendhan Nagar?

The Sub Registrar Office that covers Vendhan 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 Melakottyur

When buying or selling property in Melakottyur, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used to assess the minimum value of the property for registration purposes, ensuring that the transaction is documented at a fair value.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall costs involved in property transactions. The registration office will use this value to calculate the applicable duties and fees during the registration process.

Frequently asked questions

What is the current guideline value of Vendhan Nagar?

The current guideline value of Vendhan Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What is the land classification for Vendhan Nagar?

The land classification for Vendhan Nagar is Residential Special Type - III.

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.

How is stamp duty calculated for properties in Vendhan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000, leading to a stamp duty of Rs 70,000.