Guideline Value for Jemi Housing VMR Nagar Phase 3

Jemi Housing VMR Nagar Phase 3 guideline value

The current guideline value of Jemi Housing VMR Nagar Phase 3 is Rs 200 per sq.ft, effective from 1 July 2024. This property is located in Vallam village under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Jemi Housing VMR Nagar Phase 3 has changed

The guideline value has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 65 per sq.ft. This increased to Rs 200 per sq.ft in 2012, then decreased to Rs 134 per sq.ft in 2017. The 2023 revision maintained the value at Rs 200 per sq.ft, which remains unchanged in the 2024 revision.

Specifically, from 2017 to 2023, there was a significant increase of 49%. The change from 2012 to 2017 saw a decrease of 33%. However, from 2007 to 2012, the guideline value increased substantially by 208%. Overall, from 2007 to 2024, the guideline value has increased by 208%.

Guideline values in Vallam

In Vallam, there are 51 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 1,950 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Jemi Housing VMR Nagar Phase 3 aligns perfectly with this median.

• Kamachi Nagar: Rs 200 per sq.ft (2024)
• Highway: Rs 601 per sq.ft (2024)
• Green Holiday Resorts: Rs 300 per sq.ft (2024)
• Gowtham Nagar Extn-IV: Rs 600 per sq.ft (2024)
• Gowtham Nagar: Rs 600 per sq.ft (2024)
• Kavery Nagar: Rs 410 per sq.ft (2024)

Stamp duty and registration fee for property in Jemi Housing VMR Nagar Phase 3

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Jemi Housing VMR Nagar Phase 3?

The Jemi Housing VMR Nagar Phase 3 falls under the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process of property transactions in Vallam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Jemi Housing VMR Nagar Phase 3?

The current guideline value of Jemi Housing VMR Nagar Phase 3 is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision maintaining the value at Rs 200 per sq.ft since 2023. Notably, it increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 and the registration fee would be Rs 4,000, totaling Rs 18,000.

Which office handles property registration in Jemi Housing VMR Nagar Phase 3?

The Sriperumpudur Sub Registrar Office handles property registration for Jemi Housing VMR Nagar Phase 3, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Jemi Housing VMR Nagar Phase 3?

Jemi Housing VMR Nagar Phase 3 is classified as Residential Class III Type - I, which is important for understanding the zoning and usage regulations in the area.