Guideline Value for V.M.R Nagar

V.M.R Nagar guideline value

The current guideline value of V.M.R Nagar is Rs 305 per sq.ft, effective from 1 July 2024. This area is located in Mambakkam village under the Sunguvarchattram SRO, classified as Residential Class I Type - I.

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

The guideline value for V.M.R Nagar has seen significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 200 per sq.ft, which increased to Rs 305 per sq.ft in the 2024 revision, marking a change of +53%.

This increase reflects the current valuation trends in the area, with the 2024 figure now aligning with the median guideline value for the 39 streets in Mambakkam under the Sunguvarchattram SRO.

Guideline values in Mambakkam

The guideline values in Mambakkam vary significantly, with rates ranging from Rs 200 to Rs 1,418 per sq.ft. The median value is Rs 305 per sq.ft, which is the same as the current guideline value for V.M.R Nagar. Below are the guideline values for other streets in Mambakkam:

• Vinayagar Kovil Street: Rs 275 per sq.ft (2024)
• Viilage Bajanai Kovil Street: Rs 305 per sq.ft (2024)
• VairaKula Street: Rs 305 per sq.ft (2024)
• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 275 per sq.ft (2024)
• Thabalmedu: Rs 305 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 305 per sq.ft, the total guideline value would be Rs 3,05,000. The stamp duty at 7% would amount to Rs 21,350, and the registration fee at 2% would be Rs 6,100, totaling Rs 27,450. 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 detailed calculations.

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

The Sub Registrar Office that covers V.M.R Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

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

The current guideline value of V.M.R Nagar is Rs 305 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 200 per sq.ft to Rs 305 per sq.ft, which is a change of +53%.

What is the classification of land in V.M.R Nagar?

The land in V.M.R Nagar is classified as Residential Class I Type - I.

Where can I find the registration office for V.M.R Nagar?

The registration office for V.M.R Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in V.M.R Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 3,05,000, the stamp duty would be Rs 21,350 at 7%.