Guideline Value for V.P. SINGH NAGAR

V.P. Singh Nagar guideline value

The current guideline value of V.P. Singh Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Natham village, under the Chengleput Joint II SRO. The land classification for this area is Residential Class I Type - III.

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

The guideline value for V.P. Singh Nagar has seen several revisions over the years. In the 2012 revision, the value was Rs 1,000 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the guideline value increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%, while the change from 2012 to 2017 reflected a decrease of 33%. Overall, from 2012 to 2024, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chengalpattu Natham

In Chengalpattu Natham, there are 88 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. V.P. Singh Nagar's current guideline value is below this median.

• V.O.C Street: Rs 3,850 per sq.ft (2024)
• Ward No -4: Rs 1,650 per sq.ft (2024)
• Writer Sabapathy Street Ward-4: Rs 1,650 per sq.ft (2024)
• Vip Nagar: Rs 2,200 per sq.ft (2024)
• Veerabathira Chetty Street- Ward-4: Rs 1,650 per sq.ft (2024)
• Vedhappar Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. 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 detailed calculations based on your specific property.

Which Sub Registrar Office covers V.P. Singh Nagar?

The Sub Registrar Office that covers V.P. Singh Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chengalpattu Natham. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is referenced to ensure that the appropriate taxes are collected. This value helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of V.P. Singh Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for V.P. Singh Nagar?

The land classification for V.P. Singh Nagar is Residential Class I Type - III.

What is the registration office for V.P. Singh Nagar?

The registration office for V.P. Singh Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in V.P. Singh Nagar?

Stamp duty for properties in V.P. Singh Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.