Guideline Value for V.M.K.Nagar

V.M.K.Nagar guideline value

The current guideline value of V.M.K.Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - III land classification.

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

The guideline value for V.M.K.Nagar has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 64 per sq.ft. This increased to Rs 90 per sq.ft in 2003, marking a 41% rise. The next significant jump occurred in 2007, where the value surged to Rs 300 per sq.ft, reflecting a 233% increase. Following that, in 2012, the value was recorded at Rs 1,900 per sq.ft, which was a substantial increase of 533% from the previous revision. However, the 2017 revision saw a decrease to Rs 1,273 per sq.ft, a drop of 33%.

In the subsequent revisions, the guideline value rose again, with the 2023 figure at Rs 1,900 per sq.ft, and then increasing to Rs 2,000 per sq.ft in 2024, which represents a 5% increase. Overall, from 2002 to 2024, the guideline value has increased by 3025%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value for V.M.K.Nagar is above this median.

• V.O.C.Street: Rs 1,100 per sq.ft (2024)
• Vinayakar Koil Street: Rs 1,300 per sq.ft (2024)
• West Street: Rs 1,300 per sq.ft (2024)
• Yes Pee Avenue: Rs 2,700 per sq.ft (2024)
• Veera Ragavalu Nagar Extension: Rs 2,300 per sq.ft (2024)
• Veera Ragavalu Nagar: Rs 2,300 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 2,000 per sq.ft, the total guideline value would be Rs 20,00,000. The stamp duty at 7% would amount to Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.M.K.Nagar?

The Sub Registrar Office that covers V.M.K.Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process of property transactions in Kathirvedu. It serves as a benchmark for calculating the stamp duty and registration fees that buyers need to pay when purchasing property.

When a property is sold, the guideline value is used to ensure that the transaction is registered at a fair value, which helps in maintaining transparency in property dealings. Buyers should be aware of the current guideline value to understand their financial obligations during the registration process.

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 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 64 per sq.ft in 2002 to Rs 2,000 per sq.ft in 2024, reflecting an overall increase of 3025%.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,40,000 and the registration fee would be Rs 40,000, totaling Rs 1,80,000.

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

The Ambattur Sub Registrar Office handles registrations for V.M.K.Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

V.M.K.Nagar falls under the Residential Class II Type - III land classification, which is important for understanding the zoning regulations applicable to this area.