Guideline Value for V.I.P NAGAR

V.I.P Nagar guideline value

The current guideline value of V.I.P Nagar is Rs 1,300 per sq.ft. This area is located in Nalambakkam village and falls under the Gooduvancheri SRO. The land classification for this region is Residential Special Type - II.

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

Over the years, the guideline value of V.I.P Nagar has seen several revisions. The 2012 revision set the value at Rs 1,300 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2017 revision, the value dropped to Rs 871 per sq.ft, marking a decrease of 33% from the previous revision.

From 2017 to 2023, there was a significant increase of 49%, bringing the guideline value back to Rs 1,300 per sq.ft. Overall, from the 2012 revision to the 2023 revision, the guideline value has not changed, remaining at Rs 1,300 per sq.ft.

Guideline values in Nalambakkam

Currently, there are no specific village figures available for Nalambakkam. V.I.P Nagar is one of the areas under the Gooduvancheri SRO, and there are no other streets in Nalambakkam listed with guideline values.

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 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V.I.P Nagar?

The V.I.P Nagar area is covered by 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 Nalambakkam

The guideline value plays a crucial role during the registration of property transactions in Nalambakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

It is essential for buyers and sellers to be aware of the guideline value in their respective areas, as it directly affects the costs involved in property transactions. This ensures that all parties are informed and prepared for the financial implications of the sale or purchase.

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 1,300 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, followed by an increase back to Rs 1,300 per sq.ft in 2023.

What is the stamp duty rate for properties in V.I.P Nagar?

The stamp duty rate for properties in V.I.P Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

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

Is there a calculator for stamp duty and registration fees?

Yes, there is a stamp duty and registration fee calculator available for users to estimate their costs based on the guideline value.