Guideline Value for V.M.S. NAGAR

V.M.S. Nagar guideline value

The current guideline value of V.M.S. Nagar is Rs 220 per sq.ft, effective from 1 July 2024. This area is located in Vallur village under the Thiruvottiyur SRO and is classified as Residential Class II Type - I.

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

Over the years, the guideline value of V.M.S. Nagar has seen significant changes. The 2017 revision set the value at Rs 134 per sq.ft, which increased to Rs 200 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has raised the guideline value to Rs 220 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft, with a median value of Rs 220 per sq.ft. V.M.S. Nagar's guideline value aligns with this median.

• V.R.Bahavan Nagar: Rs 330 per sq.ft (2024)
• Vinayagar Nagar: Rs 220 per sq.ft (2024)
• Vijay Nagar: Rs 220 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Vigneswar Nagar: Rs 220 per sq.ft (2024)
• Velankanni Nagar: Rs 220 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 220 per sq.ft, the guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, while the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.M.S. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Vallur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the duty.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate market and land classifications.

Frequently asked questions

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

The current guideline value of V.M.S. Nagar is Rs 220 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 134 per sq.ft to Rs 220 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for V.M.S. Nagar?

The registration office for V.M.S. Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

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

Stamp duty for properties in V.M.S. Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

Are there other streets in Vallur with different guideline values?

Yes, there are other streets in Vallur under the Thiruvottiyur SRO with varying guideline values, ranging from Rs 220 to Rs 551 per sq.ft.