Guideline Value for V.K.N. Nagar 1st Street

V.K.N. Nagar 1st Street guideline value

The current guideline value of V.K.N. Nagar 1st Street is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Ikkadu village, under the Tiruvallur Joint 1 SRO, with a land classification of Residential Class II Type - II.

How the guideline value of V.K.N. Nagar 1st Street has changed

Over the years, the guideline value of V.K.N. Nagar 1st Street has seen several revisions. The 2007 revision set the value at Rs 50 per sq.ft, which increased significantly to Rs 400 per sq.ft in the 2012 revision. However, in the 2017 revision, it decreased to Rs 268 per sq.ft. The 2023 revision brought it back to Rs 400 per sq.ft, and there was no change in the 2024 revision, maintaining the value at Rs 400 per sq.ft.

From 2007 to 2024, the overall increase in the guideline value is 700%. The changes between the revisions include a 700% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Ikkadu

Ikkadu village has 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft, with the median being Rs 400 per sq.ft. The guideline value of V.K.N. Nagar 1st Street is equal to this median.

• V.K.N. Nagar 2nd street: Rs 400 per sq.ft (2024)
• V.K.N. Nagar 3rd street: Rs 400 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Vetri Enclave Phase III: Rs 500 per sq.ft (2024)
• Venkat Ramani Nagar: Rs 400 per sq.ft (2024)
• Vasantham Town: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in V.K.N. Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers V.K.N. Nagar 1st Street?

The Sub Registrar Office covering V.K.N. Nagar 1st Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.K.N. Nagar 1st Street?

The current guideline value of V.K.N. Nagar 1st Street is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 50 per sq.ft in 2007, increasing to Rs 400 per sq.ft in 2012, then decreasing to Rs 268 per sq.ft in 2017, and returning to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification for V.K.N. Nagar 1st Street?

The land classification for V.K.N. Nagar 1st Street is Residential Class II Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 4,00,000, the stamp duty is Rs 28,000, and the registration fee is Rs 8,000, totaling Rs 36,000.

Where is the Sub Registrar Office for V.K.N. Nagar 1st Street located?

The Sub Registrar Office for V.K.N. Nagar 1st Street is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.