Guideline Value for V.R.BAHAVAN NAGAR

V.R.Bahavan Nagar guideline value

The current guideline value of V.R.Bahavan Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Vallur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class I Type - II.

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

The guideline value for V.R.Bahavan Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 201 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Vallur

In Vallur, there are 75 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 551 per sq.ft. The median value for these streets is Rs 220 per sq.ft, placing V.R.Bahavan Nagar's 2024 figure above that median.

• V.M.S. Nagar: Rs 220 per sq.ft (2024)
• Vinayagar Nagar: Rs 220 per sq.ft (2024)
• Vijay Nagar: Rs 220 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 220 per sq.ft (2024)
• Vigneswar Nagar: Rs 220 per sq.ft (2024)
• Velankanni Nagar: Rs 220 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, which comes to Rs 23,100, while the registration fee at 2% totals Rs 6,600. Together, the total cost for stamp duty and registration fee would be Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office covering V.R.Bahavan Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vallur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is established by the Registration Department and is updated periodically to reflect changes in the market.

When a buyer or seller engages in a property transaction, the guideline value is referenced to ensure that the appropriate taxes and fees are calculated accurately. This helps maintain transparency and compliance with local regulations during the registration process.

Frequently asked questions

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

The current guideline value of V.R.Bahavan Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 201 per sq.ft in 2017 to Rs 330 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the stamp duty rate for properties in V.R.Bahavan Nagar?

The stamp duty rate for properties in V.R.Bahavan Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values of other streets in Vallur?

Other streets in Vallur have a guideline value of Rs 220 per sq.ft as of 2024, including V.M.S. Nagar, Vinayagar Nagar, Vijay Nagar, Vijayalakshmi Nagar, Vigneswar Nagar, and Velankanni Nagar.