Guideline Value for Vivek Nagar Annex

Vivek Nagar Annex guideline value

The current guideline value of Vivek Nagar Annex is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village, under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Vivek Nagar Annex has changed

The guideline value for Vivek Nagar Annex has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 200 per sq.ft, which increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 268 per sq.ft in 2017, representing a 33% drop. The subsequent revision in 2023 raised the value to Rs 400 per sq.ft, followed by another increase to Rs 440 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with the median value being Rs 440 per sq.ft. The guideline value for Vivek Nagar Annex is equal to this median.

• Vivek Nagar Annex I: Rs 550 per sq.ft (2024)
• Viswagayathri Nagar: Rs 440 per sq.ft (2024)
• Vishnu Nagar: Rs 440 per sq.ft (2024)
• Vijay Nagar: Rs 440 per sq.ft (2024)
• Vigneshwara Nagar Annex: Rs 770 per sq.ft (2024)
• Vellalar Veethi: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vivek Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these charges Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vivek Nagar Annex?

The Vivek Nagar Annex falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements when transferring property ownership.

When registering a property, the guideline value helps in calculating applicable stamp duty and registration fees. This ensures that the transaction is officially recorded and that the relevant government taxes are paid based on the established guideline value.

Frequently asked questions

What is the current guideline value of Vivek Nagar Annex?

The current guideline value of Vivek Nagar Annex is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, showing an overall increase of 120% over this period.

What is the land classification for Vivek Nagar Annex?

The land classification for Vivek Nagar Annex is Residential Class III Type - I.

What are the stamp duty and registration fees for property in Vivek Nagar Annex?

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Sub Registrar Office for Vivek Nagar Annex located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.