Guideline Value for V.R.K. Nagar

V.R.K. Nagar guideline value

The current guideline value of V.R.K. Nagar, located in Athur B Block village under the Chengleput Joint II SRO, is Rs 1,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - I.

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

The guideline value for V.R.K. Nagar has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 150 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017. The 2023 revision maintained the value at Rs 1,000 per sq.ft, which remains unchanged in the 2024 revision.

From 2017 to 2023, there was a significant increase of 149%. The overall change from 2007 to 2024 shows an increase of 567%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Athur B Block

Athur B Block has 79 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value in this area is Rs 700 per sq.ft, making V.R.K. Nagar's 2024 figure of Rs 1,000 per sq.ft above the median.

• VKR Gardens: Rs 1,440 per sq.ft (2024)
• Vijayanagar Extention: Rs 1,000 per sq.ft (2024)
• Vgn Water Gardens: Rs 700 per sq.ft (2024)
• Venkateswara Nagar: Rs 500 per sq.ft (2024)
• Vasantham Nagar Phase1,2,3: Rs 700 per sq.ft (2024)
• Vasantham Nagar Extn: Rs 800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers V.R.K. Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Athur B Block

The guideline value is a critical factor during the registration process when buying or selling property in Athur B Block. It determines the stamp duty and registration fees that need to be paid, ensuring that both parties are aware of the official valuation of the property.

When a property is registered, the guideline value is used to calculate the applicable charges, which can vary based on the property's size and location. Buyers should be aware of the current guideline values to ensure they are prepared for these costs.

Frequently asked questions

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

The current guideline value of V.R.K. Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, showing an overall increase of 567% over the years.

What is the median guideline value in Athur B Block?

The median guideline value in Athur B Block is Rs 700 per sq.ft, with V.R.K. Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for V.R.K. Nagar?

For a 1,000 sq.ft plot, the total guideline value is Rs 10,00,000, resulting in a stamp duty of Rs 70,000 and a registration fee of Rs 20,000, totaling Rs 90,000.

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

The Chengleput Joint II Sub Registrar Office handles registrations for V.R.K. Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.