Guideline Value for V.R.B. NAGAR

V.R.B. Nagar guideline value

The current guideline value of V.R.B. Nagar, located in Minjur village under the Ponneri SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of V.R.B. Nagar has changed

The guideline value of V.R.B. Nagar has seen significant changes over the years. The 2017 revision recorded a value of Rs 335 per sq.ft. This increased to Rs 500 per sq.ft in the 2023 revision, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 550 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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, as the register does not contain any data for those revisions.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which means that V.R.B. Nagar's 2024 guideline value aligns with this median.

• V.O.C. Street: Rs 550 per sq.ft (2024)
• Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Vinayagam Nagar: Rs 880 per sq.ft (2024)
• Vijayalakshmi Nagar Ext: Rs 550 per sq.ft (2024)
• Vignesh Nagar: Rs 880 per sq.ft (2024)
• Venkata Reddi Palayam: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in V.R.B. Nagar

For a property in V.R.B. Nagar, if you consider a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these charges Rs 49,500. It is essential to note that the stamp duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.R.B. Nagar?

The V.R.B. Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value plays a crucial role in property transactions in Minjur, as it determines the minimum value at which properties must be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is important for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. Understanding these values can help in making informed decisions during the property buying or selling process.

Frequently asked questions

What is the current guideline value of V.R.B. Nagar?

The current guideline value of V.R.B. Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 335 per sq.ft to Rs 550 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for a property in V.R.B. Nagar?

The stamp duty for a property in V.R.B. Nagar is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total charges would amount to Rs 49,500.

Which office handles property registrations in V.R.B. Nagar?

The Ponneri Sub Registrar Office handles property registrations in V.R.B. Nagar. It is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

Are there other streets in Minjur with the same guideline value?

Yes, there are several other streets in Minjur that have a guideline value of Rs 550 per sq.ft, including V.O.C. Street, Vinayagar Nagar, and Vijayalakshmi Nagar Ext.