Guideline Value for NEW VISION TOWNSHIP PHASE-IV

New Vision Township Phase-IV guideline value

The current guideline value of New Vision Township Phase-IV is Rs 2,970 per sq.ft, effective from 1 July 2024. This property is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO with a land classification of Commercial Class I Type - I.

How the guideline value of New Vision Township Phase-IV has changed

In the 2023 revision, the guideline value for New Vision Township Phase-IV was Rs 2,700 per sq.ft. The latest revision in 2024 shows an increase of 10%, bringing the current guideline value to Rs 2,970 per sq.ft. The register has no figures for this street in the years 2017, 2012, 2007, 2003, and 2002.

With the increase from 2023 to 2024, the guideline value has seen a notable change. The previous figure of Rs 2,700 per sq.ft has now risen to Rs 2,970 per sq.ft, indicating a significant adjustment in the valuation of properties in this area.

Guideline values in Vengambakkam

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

• New Vision Township Phase - II: Rs 2,480 per sq.ft (2024)
• New Vision Township Phase VI: Rs 3,580 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-IV

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers New Vision Township Phase-IV?

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

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

The guideline value is an essential factor in property transactions in Vengambakkam. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The authorities use this value to assess the transaction for tax purposes.

When registering a property, buyers must ensure that the sale price meets or exceeds the guideline value. This ensures compliance with local regulations and helps in the accurate calculation of applicable fees.

Frequently asked questions

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

The current guideline value of New Vision Township Phase-IV is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 2,700 per sq.ft to Rs 2,970 per sq.ft, marking a 10% rise.

What is the land classification for New Vision Township Phase-IV?

The land classification for New Vision Township Phase-IV is Commercial Class I Type - I.

What are the stamp duty and registration fees for a property in New Vision Township Phase-IV?

For a 1,000 sq.ft plot, the total guideline value is Rs 29,70,000. The stamp duty at 7% is Rs 2,07,900, and the registration fee at 2% is Rs 59,400, totaling Rs 2,67,300.

Which office handles registrations for properties in Vengambakkam?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties in Vengambakkam, located at No.26, Mes Road, East Tambaram, Chennai-600059.