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 Gunippalaiyam village under the Oothukkottai SRO and is classified as Residential Class I Type - I.

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

The guideline value for V.R.G. Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 75 per sq.ft, which increased to Rs 50 per sq.ft in the 2017 revision, reflecting a decrease. However, the value rose significantly to Rs 100 per sq.ft in both the 2023 and 2024 revisions, showing a 100% increase from 2017 to 2023, while remaining unchanged from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 33% from the 2012 revision to the current 2024 rate.

Guideline values in Gunippalaiyam

In Gunippalaiyam village, there are 11 streets under the Oothukkottai SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. V.R.G. Nagar's 2024 figure aligns with this median.

• Valampuri Nagar: Rs 100 per sq.ft (2024)
• Sri Valampuri Nagar: Rs 100 per sq.ft (2024)
• Sri Muthu Nagar: Rs 100 per sq.ft (2024)
• Sri Bavani Amman Nagar: Rs 100 per sq.ft (2024)
• Mothinagar Annex: Rs 100 per sq.ft (2024)
• Mothi Nagar: Rs 100 per sq.ft (2024)

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 at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for precise calculations.

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

The Oothukkottai Sub Registrar Office covers V.R.G. Nagar, located near the government hospital in Uthukottai, 602026, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gunippalaiyam. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable by the buyer.

When a property is sold, the buyer must ensure that the sale price is equal to or higher than the guideline value to avoid any legal complications during registration. This ensures that the transaction is compliant with the regulations set forth by the Registration Department.

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 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then to Rs 100 per sq.ft in both 2023 and 2024.

What are the stamp duty and registration fees for properties in V.R.G. Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 9,000.

Which office handles registrations for V.R.G. Nagar?

The Oothukkottai Sub Registrar Office handles registrations for V.R.G. Nagar, located near the government hospital in Uthukottai.

What is the land classification of V.R.G. Nagar?

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