Guideline Value for V.S.S Nagar

V.S.S Nagar guideline value

The current guideline value of V.S.S Nagar is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Thirumudivakkam village under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of V.S.S Nagar has changed

The guideline value for V.S.S Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which decreased to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 600 per sq.ft. The latest revision in 2024 raised the guideline value to Rs 660 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Thirumudivakkam

In Thirumudivakkam, there are 56 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 660 to Rs 3,860 per sq.ft, with a median value of Rs 1,320 per sq.ft. V.S.S Nagar's 2024 guideline value is below this median.

• Velayudham Nagar: Rs 1,320 per sq.ft (2024)
• Vasantham Nagar: Rs 660 per sq.ft (2024)
• Thirumudivakkam Road: Rs 1,320 per sq.ft (2024)
• Thai Thillai Nagar: Rs 660 per sq.ft (2024)
• Swagatham Nagar: Rs 660 per sq.ft (2024)
• Subhalakshmi Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in V.S.S Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers V.S.S Nagar?

The Sub Registrar Office that covers V.S.S Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during property registration in Thirumudivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in government records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of V.S.S Nagar?

The current guideline value of V.S.S Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for V.S.S Nagar?

V.S.S Nagar is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for V.S.S Nagar?

The Padappai Sub Registrar Office covers V.S.S Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in V.S.S Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 at 7%.