Guideline Value for V.M. NAGAR

V.M. Nagar guideline value

The current guideline value of V.M. Nagar in Periyakuppam village, under the Tiruvallur Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

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 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest 2024 revision has further increased it to Rs 1,650 per sq.ft.

In terms of percentage changes, the guideline value rose by 10% from 2023 to 2024. From 2017 to 2023, there was a significant increase of 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO with a guideline value for 2024 ranging from Rs 550 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing V.M. Nagar's 2024 guideline value above this median.

• Vivekanatha Salai: Rs 1,320 per sq.ft (2024)
• V.O.Saminathan Street: Rs 1,100 per sq.ft (2024)
• 1'st Cross Street: Rs 550 per sq.ft (2024)
• 2'nd Cross Street: Rs 550 per sq.ft (2024)
• V.G.P./ Nagar: Rs 1,650 per sq.ft (2024)
• Varadha Rajapuram & Varadha Raja Nagar: Rs 1,100 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. 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 Periyakuppam

The guideline value is a crucial factor in the registration of property transactions in Periyakuppam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of V.M. Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Periyakuppam?

The median guideline value for streets in Periyakuppam is Rs 1,100 per sq.ft for the year 2024.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations in V.M. Nagar?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for V.M. Nagar, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.