Guideline Value for V.R.G NAGAR

V.R.G Nagar guideline value

The current guideline value of V.R.G Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Ilayanarvellore village and falls under the Walajabad SRO. The land classification for this region is Residential Class I Type - I.

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

Over the years, the guideline value of V.R.G Nagar has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 100 per sq.ft. The 2017 revision marked a decrease to Rs 67 per sq.ft, representing a 33% drop from the previous value. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained stable at Rs 100 per sq.ft, indicating no change over this period.

Guideline values in Ilayanarvellore

Currently, there are no specific village figures provided for Ilayanarvellore. V.R.G Nagar is one of the streets under the Walajabad SRO, which includes the following:

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

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty is charged at 7%, amounting to Rs 7,000, and the registration fee is 2%, totaling Rs 2,000. Together, the total cost for stamp duty and registration would be Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.R.G Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ilayanarvellore. 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 registered, the higher value between the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

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

The current guideline value of V.R.G Nagar is Rs 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 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in both 2023 and 2024, showing no overall change from 2012 to 2024.

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

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

What are the registration fees for property transactions?

The registration fee for property transactions in V.R.G Nagar is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.