Guideline Value for V.I.P NAGAR

V.I.P Nagar guideline value

The current guideline value of V.I.P Nagar is Rs 1,000 per sq.ft, as per the 2023 revision. This area falls under Murugamangalam village and is governed by the Gooduvancheri SRO. The land classification for this location is Residential Special Type - II.

How the guideline value of V.I.P Nagar has changed

Looking at the revisions, the guideline value for V.I.P Nagar was Rs 1,000 per sq.ft in 2012. This figure remained the same in the subsequent revision in 2017, where it decreased to Rs 670 per sq.ft. However, from 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 1,000 per sq.ft.

Overall, from the 2012 revision to the 2023 revision, there has been no change in the guideline value, maintaining at Rs 1,000 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Murugamangalam

Currently, there are no specific village figures provided for Murugamangalam. V.I.P Nagar is one of the streets under the Gooduvancheri SRO.

Stamp duty and registration fee for property in V.I.P Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total to Rs 90,000. 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.I.P Nagar?

The Sub Registrar Office that covers V.I.P Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Murugamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a value recognized by the government.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers must ensure that the sale price is at least equal to or higher than the guideline value to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of V.I.P Nagar?

The current guideline value of V.I.P Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased back to Rs 1,000 per sq.ft in 2023. Overall, there has been no change from 2012 to 2023.

What is the land classification for V.I.P Nagar?

The land classification for V.I.P Nagar is Residential Special Type - II, indicating its designated use for residential purposes.

Where is the Gooduvancheri SRO located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in V.I.P Nagar?

Stamp duty for properties in V.I.P Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft, the total stamp duty would be Rs 70,000.