Guideline Value for V.P.K NAGAR

V.P.K Nagar guideline value

The current guideline value of V.P.K Nagar, located in Vellavedu village under the Poonamallee SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Mixed Type - III land classification.

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

The guideline value for V.P.K Nagar has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,200 per sq.ft, and in the 2024 revision, it increased to Rs 1,320 per sq.ft, marking a change of +10%.

With the current guideline value at Rs 1,320 per sq.ft, it aligns with the median value of Rs 1,320 per sq.ft for the 11 streets in Vellavedu under the Poonamallee SRO. The previous revisions show a steady increase from Rs 1,200 per sq.ft in 2023 to the current rate in 2024.

Guideline values in Vellavedu

In Vellavedu, the guideline values for various streets range from Rs 550 to Rs 2,475 per sq.ft, with the median being Rs 1,320 per sq.ft. V.P.K Nagar's 2024 guideline value matches this median. Below are the guideline values for other streets in Vellavedu:

• Sri Prasanna Vinayakar Nagar: Rs 550 per sq.ft (2024)
• Sri Prasanna Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Sree Vaari Garden Phase - II: Rs 1,700 per sq.ft (2024)
• Shree Vaari Garden Phase-I: Rs 1,500 per sq.ft (2024)
• N.S.R Street: Rs 825 per sq.ft (2024)
• New Metro Nagar: Rs 1,660 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers V.P.K Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vellavedu. It is used to calculate the stamp duty and registration fees, which are essential costs when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps maintain transparency in property dealings and ensures that the appropriate taxes are levied based on the property's worth.

Frequently asked questions

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

The current guideline value of V.P.K Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, which is an increase of +10%. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Vellavedu?

Other streets in Vellavedu have guideline values ranging from Rs 550 to Rs 1,700 per sq.ft. V.P.K Nagar's value of Rs 1,320 per sq.ft is equal to the median value for the area.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 13,20,000, the total costs would be Rs 1,18,800.

Which office should I approach for registration in V.P.K Nagar?

The Poonamallee Sub Registrar Office covers V.P.K Nagar. It is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.