Guideline Value for SRI VIMAL NAGAR

Sri Vimal Nagar guideline value

The current guideline value of Sri Vimal Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Vimal Nagar has changed

The guideline value for Sri Vimal Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The current figure for 2024 is Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sri Vimal Nagar.

• Sri Venkateswara Nagar: Rs 990 per sq.ft (2024)
• Sri Sarveswari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Sakthi Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Ram Nagar Extn: Rs 1,650 per sq.ft (2024)
• Sulochana Nagar: Rs 990 per sq.ft (2024)
• Sriram Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vimal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Vimal Nagar?

The Sub Registrar Office that covers Sri Vimal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Vimal Nagar?

The current guideline value of Sri Vimal Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2017 to 2024?

From 2017 to 2024, the guideline value has increased by 64%, from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft.

What is the registration office for Sri Vimal Nagar?

The registration office for Sri Vimal Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Vimal Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would be Rs 1,15,500.

Are there other streets with similar guideline values in Varadarajapuram?

Yes, there are other streets in Varadarajapuram with similar guideline values. For instance, Sri Sarveswari Nagar and Sri Ram Nagar Extn also have a guideline value of Rs 1,650 per sq.ft in 2024.