Guideline Value for Vijay Ganapathy Nagar

Vijay Ganapathy Nagar guideline value

The current guideline value of Vijay Ganapathy 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 Vijay Ganapathy Nagar has changed

The guideline value for Vijay Ganapathy Nagar has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 603 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw the value rise to Rs 990 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded guideline values for this street in the revisions of 2002, 2003, 2007, and 2012. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Mannivakkam

Mannivakkam has a total of 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value for the village is Rs 1,215 per sq.ft, placing Vijay Ganapathy Nagar's current value below this median.

• Vijay Ganapathy Nagar Extension: Rs 1,320 per sq.ft (2024)
• Vigneswarapuram: Rs 990 per sq.ft (2024)
• White Field: Rs 1,320 per sq.ft (2024)
• Venkataduraivan Nagar: Rs 990 per sq.ft (2024)
• Valajabad Road: Rs 1,650 per sq.ft (2024)
• Tvh Titanium Cty: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Vijay Ganapathy 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 cost for these fees to Rs 89,100. 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 Vijay Ganapathy Nagar?

The Vijay Ganapathy Nagar area falls under the jurisdiction of 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 details.

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

The guideline value is a critical factor when registering property transactions in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the property registration process.

When selling a property, the guideline value helps ensure that the sale price reflects the legal requirements for registration. This value is essential for both buyers and sellers to understand to avoid any legal complications during the transaction.

Frequently asked questions

What is the current guideline value of Vijay Ganapathy Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64%, from Rs 603 per sq.ft to Rs 990 per sq.ft in 2024. The most recent change from 2023 to 2024 is a 10% increase.

What is the median guideline value in Mannivakkam?

The median guideline value for Mannivakkam is Rs 1,215 per sq.ft. The guideline value of Vijay Ganapathy Nagar is below this median.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300, and the registration fee is Rs 19,800, totaling Rs 89,100. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vijay Ganapathy Nagar?

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