Guideline Value for V J K NAGAR

V J K Nagar guideline value

The current guideline value of V J K Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Residential Special Type - I.

How the guideline value of V J Nagar has changed

The guideline value for V J K Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value rose to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,110 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33% in the guideline value. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects an increase of 11%. Overall, from 2012 to 2024, the guideline value has seen an increase of 11%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value is Rs 1,100 per sq.ft, placing V J K Nagar's 2024 figure above this median.

• Vishnu Nagar: Rs 770 per sq.ft (2024)
• Viruksham Avenue: Rs 775 per sq.ft (2024)
• V.S.N.Avenue: Rs 1,110 per sq.ft (2024)
• Vijaya Vishnu Nagar Phase-II: Rs 775 per sq.ft (2024)
• Vijaya Vishnu Nagar: Rs 770 per sq.ft (2024)
• VENGATESWARA NAGAR (190/1a/1a2b/1b): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in V J K Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,110 per sq.ft, the guideline value amounts to Rs 11,10,000. The stamp duty at 7% would be Rs 77,700, and the registration fee at 2% would be Rs 22,200, totaling Rs 99,900. 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 details.

Which Sub Registrar Office covers V J K Nagar?

The Sub Registrar Office that covers V J K Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of properties in Mathuranthagam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of V J K Nagar?

The current guideline value of V J K Nagar is Rs 1,110 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and is now Rs 1,110 per sq.ft in 2024.

What is the land classification of V J K Nagar?

V J K Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

Where can I find the registration office for V J K Nagar?

The registration office for V J K Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

How is the stamp duty calculated for properties in V J K Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,10,000 would incur a stamp duty of Rs 77,700 at a rate of 7%.