Guideline Value for V.P. Nagar

V.P. Nagar guideline value

The current guideline value of V.P. Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class V Type - I.

How the guideline value of V.P. Nagar has changed

The guideline value of V.P. Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 70 per sq.ft, which increased to Rs 100 per sq.ft in 2003, marking a 43% rise. The value then rose to Rs 200 per sq.ft in 2007, reflecting a 100% increase. By 2012, the value reached Rs 900 per sq.ft, showing a significant 350% increase from the previous revision. However, it dropped to Rs 603 per sq.ft in 2017, a decrease of 33%.

In 2023, the guideline value was revised to Rs 900 per sq.ft, and it increased again to Rs 990 per sq.ft in 2024, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1314%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, making the current value of V.P. Nagar below that median.

• V.V. Giri Street: Rs 2,400 per sq.ft (2024)
• V.O.C. Nagar: Rs 2,700 per sq.ft (2024)
• V.O.Chithambaram Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• V.O.C. 4th Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 3rd Street: Rs 2,700 per sq.ft (2024)
• V.O.C. 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in V.P. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.P. Nagar?

The Sub Registrar Office that covers V.P. 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 Thirumullaivoyal

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as the basis for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of V.P. Nagar?

The current guideline value of V.P. Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 70 per sq.ft in 2002 to Rs 990 per sq.ft in 2024, an overall increase of 1314%.

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

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers V.P. Nagar?

The Ambattur Sub Registrar Office covers V.P. Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value determined for properties in Thirumullaivoyal?

The guideline value is determined based on various factors and is periodically revised by the Registration Department, reflecting the prevailing market conditions in the area.