Guideline Value for V V Nagar

V V Nagar guideline value

The current guideline value of V V Nagar is Rs 1,380 per sq.ft, effective from 1 July 2024. This area is located in Mamallapuram village under the Thirukazhukundram SRO, classified as Residential Class I Type - I.

How the guideline value of V V Nagar has changed

The guideline value for V V Nagar has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,254 per sq.ft, which was then increased to Rs 1,380 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there are no available figures for V V Nagar in the register for the years mentioned. The current value of Rs 1,380 per sq.ft is reflective of the latest revision and is significantly above the median value of Rs 935 per sq.ft for other streets in Mamallapuram under the Thirukazhukundram SRO.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO with a 2024 guideline value ranging from Rs 550 to Rs 1,650 per sq.ft. V V Nagar's guideline value is above the median of Rs 935 per sq.ft. Below are the guideline values for other streets in Mamallapuram:

• West Raja Veedhi Down side, Upside: Rs 1,485 per sq.ft (2024)
• 1st Cross Street: Rs 935 per sq.ft (2024)
• 2nd Cross Street: Rs 935 per sq.ft (2024)
• 3rd Cross Street: Rs 935 per sq.ft (2024)
• 4th Cross Street: Rs 825 per sq.ft (2024)
• 5th Cross Street: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in V V Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,380 per sq.ft, the total guideline value amounts to Rs 13,80,000. The stamp duty at 7% would be Rs 96,600, while the registration fee at 2% would be Rs 27,600, bringing the total cost for these fees to Rs 1,24,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V V Nagar?

The Sub Registrar Office that covers V V Nagar is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical component in the registration process when buying or selling property in Mamallapuram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of V V Nagar?

The current guideline value of V V Nagar is Rs 1,380 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a change from Rs 1,254 per sq.ft in 2023 to Rs 1,380 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

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

The stamp duty for a property valued at Rs 13,80,000 is Rs 96,600, and the registration fee is Rs 27,600, totaling Rs 1,24,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers V V Nagar?

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

What is the land classification for V V Nagar?

V V Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.