Guideline Value for V.P.NAGAR

V.P.Nagar guideline value

The current guideline value of V.P.Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This locality is situated in Malayambakkam village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Class I Type - I.

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

The guideline value for V.P.Nagar has seen several revisions over the years. The earliest registered figure is from 2017, which was Rs 569 per sq.ft. This increased to Rs 850 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 935 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 935 per sq.ft, which is equal to the guideline value of V.P.Nagar.

• V.S. Vijay Nagar: Rs 880 per sq.ft (2024)
• Vlc Saravana Highway City: Rs 1,400 per sq.ft (2024)
• Vlc 7 Star Nagar: Rs 935 per sq.ft (2024)
• V.K. Avenue Extension: Rs 1,210 per sq.ft (2024)
• V.K. Avenue: Rs 935 per sq.ft (2024)
• Yadhaval Street: Rs 935 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 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, making the total fees Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.P.Nagar?

The V.P.Nagar locality falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Malayambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall cost of the transaction. Buyers should be aware that the final registration cost may vary based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of V.P.Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 569 per sq.ft in 2017 to Rs 935 per sq.ft in 2024, reflecting an overall increase of 64% during this period.

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

V.P.Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 65,450.