Guideline Value for V.K.S.GROUP IN BEST CITY EXTENSION - I

V.K.S.Group In Best City Extension - I guideline value

The current guideline value for V.K.S.Group In Best City Extension - I is Rs 405 per sq.ft. This property is located in Melavalam village, under the Madurandakam SRO, classified as Residential Class II Type - II.

How the guideline value of V.K.S.Group In Best City Extension - I has changed

According to the register, the guideline value for V.K.S.Group In Best City Extension - I has remained consistent over the years. The 2017 revision recorded a value of Rs 405 per sq.ft, which continued into the 2023 revision, and remains unchanged in the 2024 revision, effective from 1 July 2024. Notably, there are no figures recorded for this street in the revisions from 2002, 2003, 2007, and 2012.

Overall, the guideline value has not changed from 2017 to 2024, maintaining a steady rate of Rs 405 per sq.ft throughout this period. This consistency indicates stability in the guideline value for this property.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,000 per sq.ft. The median value is Rs 350 per sq.ft, placing V.K.S.Group In Best City Extension - I above this median at Rs 405 per sq.ft.

• VKS BEST CITY PHASE II @ Sakthi Nagar: Rs 405 per sq.ft (2024)
• Vks Realty Inc In Best City: Rs 300 per sq.ft (2024)
• Venkatesan Nagar: Rs 400 per sq.ft (2024)
• Vb Nagar: Rs 200 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in V.K.S.Group In Best City Extension - I

For a 1,000 sq.ft plot at the current rate of Rs 405 per sq.ft, the guideline value amounts to Rs 4,05,000. The stamp duty at 7% would be Rs 28,350, and the registration fee at 2% would be Rs 8,100, bringing the total fees to Rs 36,450. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.K.S.Group In Best City Extension - I?

The V.K.S.Group In Best City Extension - I falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential aspect of property transactions in Melavalam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value serves as a benchmark to ensure that properties are not undervalued. This helps maintain transparency in property dealings and ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for V.K.S.Group In Best City Extension - I?

The current guideline value for V.K.S.Group In Best City Extension - I is Rs 405 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for V.K.S.Group In Best City Extension - I has remained unchanged at Rs 405 per sq.ft since the 2017 revision, with no changes recorded in the 2023 and 2024 revisions.

What is the land classification for this property?

The land classification for V.K.S.Group In Best City Extension - I is Residential Class II Type - II.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Melavalam?

Stamp duty for properties in Melavalam is calculated based on the guideline value or the sale price, whichever is higher. The standard rate is 7% for stamp duty and 2% for the registration fee.