Guideline Value for V S Nagar

V S Nagar guideline value

The current guideline value of V S Nagar, located in Narapakkam village, under the Thirukazhukundram SRO, is Rs 135 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of V S Nagar has changed

The guideline value of V S Nagar has undergone several revisions over the years. The earliest recorded revision was in 2017, where the guideline value was Rs 90 per sq.ft. This value increased by 50% to Rs 135 per sq.ft in the 2023 revision, which has remained the same in the 2024 revision, showing a 0% change from 2023 to 2024. Overall, from 2017 to 2024, the guideline value has increased by 50%.

There are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The 2024 and 2023 revisions both reflect a guideline value of Rs 135 per sq.ft, indicating stability in the recent years.

Guideline values in Narapakkam

Currently, there are no specific village figures available for Narapakkam. V S Nagar is situated within this village, and there are no other streets in Narapakkam listed under the Thirukazhukundram SRO.

Stamp duty and registration fee for property in V S Nagar

For a 1,000 sq.ft plot at the current rate of Rs 135 per sq.ft, the guideline value amounts to Rs 1,35,000. The stamp duty, charged at 7%, would be Rs 9,450, while the registration fee at 2% would be Rs 2,700. Together, the total cost for stamp duty and registration fee would be Rs 12,150. 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 V S Nagar?

The Sub Registrar Office that covers V S Nagar is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. For more information, you can find your SRO.

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

When buying or selling property in Narapakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum price at which the property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. The registration process will require the payment of stamp duty based on either the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of V S Nagar?

The current guideline value of V S Nagar is Rs 135 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 90 per sq.ft in 2017 to Rs 135 per sq.ft in 2023 and 2024, representing a 50% increase overall from 2017 to 2024.

What are the stamp duty and registration fees for property in V S Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,35,000, the total stamp duty and registration fees would amount to Rs 12,150.

Which Sub Registrar Office covers V S Nagar?

The Thirukazhukundram Sub Registrar Office covers V S Nagar, located at Thiruchengode - 637 211, Chengalpattu registration zone.

What is the land classification for V S Nagar?

The land classification for V S Nagar is Residential Class II Type - I, indicating its designation for residential use.