Guideline Value for Venkataduraivan Nagar

Venkataduraivan Nagar guideline value

The current guideline value of Venkataduraivan Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Venkataduraivan Nagar has changed

The guideline value for Venkataduraivan Nagar has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 900 per sq.ft. In 2017, the value decreased to Rs 603 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, it increased significantly to Rs 900 per sq.ft, representing a 49% rise. The latest revision in 2024 has set the guideline value at Rs 990 per sq.ft, a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft. The median value is Rs 1,215 per sq.ft, which indicates that Venkataduraivan Nagar's 2024 guideline value is below this median.

• Vigneswarapuram: Rs 990 per sq.ft (2024)
• Vijay Ganapathy Nagar: Rs 990 per sq.ft (2024)
• Vijay Ganapathy Nagar Extension: Rs 1,320 per sq.ft (2024)
• Valajabad Road: Rs 1,650 per sq.ft (2024)
• Tvh Titanium Cty: Rs 2,640 per sq.ft (2024)
• Tvh Titanium City-Phase -II: Rs 4,110 per sq.ft (2024)

Stamp duty and registration fee for property in Venkataduraivan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkataduraivan Nagar?

The Sub Registrar Office that covers Venkataduraivan Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Mannivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Venkataduraivan Nagar?

The current guideline value of Venkataduraivan Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then back to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, which is higher than the current value of Venkataduraivan Nagar.

What are the stamp duty and registration fees for properties in Venkataduraivan Nagar?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 89,100.

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

The Gooduvancheri Sub Registrar Office covers Venkataduraivan Nagar and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.