Guideline Value for NEW VISION TOWNSHIP PHASE VI

New Vision Township Phase VI guideline value

The current guideline value of New Vision Township Phase VI is Rs 3,580 per sq.ft, effective from 1 July 2024. This property is located in Vengambakkam village, under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - V.

How the guideline value of New Vision Township Phase VI has changed

The guideline value for New Vision Township Phase VI has seen several revisions over the years. The most recent revision in 2024 sets the value at Rs 3,580 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 3,250 per sq.ft. Prior to these, the register has no figure for this street in the revisions of 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 3,250 per sq.ft in 2023 to Rs 3,580 per sq.ft in 2024. The previous revisions do not have any figures listed for this street, indicating that the value has been established more recently.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 5,000 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing the guideline value of New Vision Township Phase VI above that median.

• New Vision Township Phase-IV: Rs 2,970 per sq.ft (2024)
• New Vision Township Phase - II: Rs 2,480 per sq.ft (2024)
• New Vision Township Phase - I: Rs 2,480 per sq.ft (2024)
• New Vision Township: Rs 2,480 per sq.ft (2024)
• Nagathamman Koil Street: Rs 440 per sq.ft (2024)
• Murugan Nagar Phase-IV: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in New Vision Township Phase VI

For a 1,000 sq.ft plot at the current guideline value of Rs 3,580 per sq.ft, the total guideline value amounts to Rs 35,80,000. The stamp duty at 7% would be Rs 2,50,600, and the registration fee at 2% would be Rs 71,600, bringing the total cost to Rs 3,22,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Vision Township Phase VI?

The Sub Registrar Office that covers New Vision Township Phase VI is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Vengambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is a key factor in calculating these costs.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It helps maintain transparency in property dealings and protects the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of New Vision Township Phase VI?

The current guideline value of New Vision Township Phase VI is Rs 3,580 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 3,250 per sq.ft in 2023 to Rs 3,580 per sq.ft in 2024, marking a 10% increase.

What is the land classification for New Vision Township Phase VI?

The land classification for New Vision Township Phase VI is Residential Class I Type - V.

Where can I find the Sub Registrar Office for New Vision Township Phase VI?

The Sub Registrar Office for New Vision Township Phase VI is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Vengambakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,80,000, the stamp duty would be Rs 2,50,600 at 7%.