Guideline Value for V.M.S. Nagar

V.M.S. Nagar guideline value

The current guideline value of V.M.S. Nagar is Rs 1,430 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A, under the Kunrathur SRO, and is classified as Residential Class II Type - II.

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

The guideline value of V.M.S. Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, an increase from Rs 1,300 per sq.ft in 2023. This represents a 10% increase from the previous year. Looking back further, the value was Rs 871 per sq.ft in 2017, marking a significant increase of 49% by 2023, and an overall increase of 64% from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, making the current value of V.M.S. Nagar below this median.

• Visalakshi Nagar: Rs 1,870 per sq.ft (2024)
• Walajah Street: Rs 1,870 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,870 per sq.ft (2024)
• Vignesh Nagar: Rs 1,870 per sq.ft (2024)
• Velleeswarar Koil Street: Rs 1,870 per sq.ft (2024)
• Vasanthapuri Phase I: Rs 2,090 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 guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total fees to Rs 1,28,700. It is important to note that 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.S. Nagar?

The Sub Registrar Office that covers V.M.S. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in property transactions in Mangadu -A, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of property transactions and ensures compliance with local regulations during the registration process.

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 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 871 per sq.ft in 2017 to Rs 1,430 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the registration fees for property in V.M.S. Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

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

The Kunrathur Sub Registrar Office covers V.M.S. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the guideline values of other streets in Mangadu -A?

Other streets in Mangadu -A have varying guideline values, with rates ranging from Rs 1,320 to Rs 3,300 per sq.ft, and the median value being Rs 1,870 per sq.ft.