Guideline Value for V.J. NAGAR

V.J. Nagar guideline value

The current guideline value of V.J. Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village, under the Pammal Sub Registrar Office (SRO). The land classification for this street is Residential Class II Type - II.

How the guideline value of V.J. Nagar has changed

The guideline value for V.J. Nagar has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which increased to Rs 1,800 per sq.ft in the 2023 revision. The most recent 2024 revision set the value at Rs 1,980 per sq.ft, marking a 10% increase from the previous year. The overall increase from the 2017 to 2024 revisions is 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The 2023 to 2024 revision reflects a significant change, while the 2017 to 2023 revision shows a 49% increase in the guideline value.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for V.J. Nagar is below this median.

• VOC Street: Rs 1,650 per sq.ft (2024)
• Visalakshi Nagar: Rs 1,980 per sq.ft (2024)
• Vtb Kuberan Garden: Rs 3,300 per sq.ft (2024)
• Yes Vee Garden: Rs 4,185 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 1,840 per sq.ft (2024)
• Vigneshwara Nagar (ward 7): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in V.J. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.J. Nagar?

The Sub Registrar Office that covers V.J. Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kerugambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the stamp duty is calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions within the area.

Frequently asked questions

What is the current guideline value of V.J. Nagar?

The current guideline value of V.J. Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023, and then to Rs 1,980 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What are the other streets in Kerugambakkam with their guideline values?

Other streets in Kerugambakkam include VOC Street at Rs 1,650 per sq.ft, Visalakshi Nagar at Rs 1,980 per sq.ft, and Vtb Kuberan Garden at Rs 3,300 per sq.ft among others.

What is the registration office for V.J. Nagar?

The registration office for V.J. Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated in V.J. Nagar?

Stamp duty in V.J. Nagar is calculated at 7% of the higher value between the guideline value and the sale price. Additionally, a registration fee of 2% is applicable.