Guideline Value for V.M. NAGAR

V.M. Nagar guideline value

The current guideline value of V.M. Nagar is Rs 626 per sq.ft. This area is located in Kakkalur village, under the Tiruvallur Joint 1 SRO, and is classified as Residential Class II Type - III.

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

Over the years, the guideline value of V.M. Nagar has seen several revisions. The 2012 revision set the value at Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision. Following this, the value increased to Rs 626 per sq.ft in both the 2023 and 2024 revisions, indicating a 49% increase from 2017 to 2023, and no change from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is a 0% increase, as the current value matches the 2024 figure.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO with a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value for these streets is Rs 626 per sq.ft, which is the same as the guideline value for V.M. Nagar.

• V.M.K. Nagar: Rs 626 per sq.ft (2024)
• Viveka Nanda Nagar: Rs 626 per sq.ft (2024)
• Vetri Nagar: Rs 626 per sq.ft (2024)
• Venkatswara Nagar: Rs 626 per sq.ft (2024)
• Vengopal Street: Rs 626 per sq.ft (2024)
• Vel Murugan Nagar: Rs 626 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, and the registration fee at 2% would be Rs 12,520. The total cost for these fees would be Rs 56,340. 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.M. Nagar?

The Sub Registrar Office that covers V.M. Nagar 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 Kakkalur

The guideline value is a critical factor in the registration of property transactions in Kakkalur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be sold. This ensures transparency and fairness in property transactions, as all parties are aware of the official valuation set by the government.

Frequently asked questions

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

The current guideline value of V.M. Nagar is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with the 2012 revision at Rs 625 per sq.ft, dropping to Rs 419 per sq.ft in 2017, and then rising back to Rs 626 per sq.ft in 2023 and 2024.

What is the land classification for V.M. Nagar?

V.M. Nagar is classified as Residential Class II Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in V.M. Nagar?

For a property valued at Rs 6,26,000, the stamp duty would be Rs 43,820, and the registration fee would be Rs 12,520, totaling Rs 56,340.

Which office handles property registrations in Kakkalur?

The Tiruvallur Joint 1 Sub Registrar Office handles property registrations in Kakkalur, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.