Guideline Value for V.I.P Nagar

V.I.P Nagar guideline value

The current guideline value of V.I.P Nagar, located in Rathinamangalam village under the Gooduvancheri SRO, is Rs 900 per sq.ft as per the 2023 revision. The land classification for this area is Residential Special Type - I.

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. In the 2012 revision, the value was set at Rs 900 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft, marking a decline of 33%. However, in the 2023 revision, the guideline value rose to Rs 900 per sq.ft again, reflecting an increase of 49% from the 2017 figure.

Overall, when comparing the values from 2012 to 2023, there has been no change in the guideline value, remaining at Rs 900 per sq.ft. It is important to note that the register has no figures for the revisions in 2002, 2003, 2007, and 2024 for this street.

Guideline values in Rathinamangalam

Currently, there are no specific village figures provided for Rathinamangalam. V.I.P Nagar is one of the areas under the Gooduvancheri SRO. Unfortunately, there are no other streets in Rathinamangalam 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 900 per sq.ft, the guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, bringing the total to Rs 81,000. It is essential 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 details.

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

The Sub Registrar Office covering 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 Rathinamangalam

The guideline value plays a crucial role in the registration process of property transactions in Rathinamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties. Buyers should be aware that the stamp duty is charged based on the higher amount between the guideline value and the actual sale price, which can affect the overall cost of the transaction.

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 900 per sq.ft as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, and then back to Rs 900 per sq.ft in 2023. Overall, there has been no change from 2012 to 2023.

What is the registration office for V.I.P Nagar?

The registration office for V.I.P Nagar is the Gooduvancheri Sub Registrar Office, 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?

The stamp duty for properties in V.I.P Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 63,000.

Is there any guideline value for other streets in Rathinamangalam?

Currently, there are no other streets in Rathinamangalam listed with guideline values. V.I.P Nagar is the only area mentioned under the Gooduvancheri SRO.