Guideline Value for V.M.K. NAGAR

V.M.K. Nagar guideline value

The current guideline value of V.M.K. Nagar is Rs 626 per sq.ft, effective from 1 July 2024. This area is located in Kakkalur village and falls under the Tiruvallur Joint 1 SRO. The land classification for this street is Residential Class II Type - III.

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

Over the years, the guideline value of V.M.K. Nagar has seen several revisions. The 2012 revision recorded a value of Rs 625 per sq.ft, which then decreased to Rs 419 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the value increased significantly to Rs 626 per sq.ft in the 2023 revision, representing a 49% increase from the 2017 figure. The 2024 revision maintained this value at Rs 626 per sq.ft, showing no change from 2023.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 626 per sq.ft.

Guideline values in Kakkalur

Kakkalur village has 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is equal to the current figure for V.M.K. Nagar.

• V.M. 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.K. 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, while the registration fee at 2% would be Rs 12,520, bringing the total fees to 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.K. Nagar?

The V.M.K. Nagar area is covered by 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 plays a crucial role in the registration process when buying or selling property in Kakkalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

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

The current guideline value of V.M.K. 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 a decrease from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, followed by an increase to Rs 626 per sq.ft in 2023 and 2024.

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

The land classification for V.M.K. Nagar is Residential Class II Type - III.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 56,340.

Which office handles registrations for V.M.K. Nagar?

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