Guideline Value for V.V. Nagar

V.V. Nagar guideline value

The current guideline value of V.V. Nagar, located in Ayappakkam village under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

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

The guideline value for V.V. Nagar has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 80 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2007, marking a 400% rise. The value remained at Rs 400 per sq.ft until 2012, when it jumped to Rs 800 per sq.ft, reflecting a 100% increase. However, in 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then rose to Rs 800 per sq.ft in 2023, and most recently, it has increased to Rs 880 per sq.ft in the 2024 revision, which is a 10% rise.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 1000%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,300 per sq.ft, placing V.V. Nagar's 2024 figure below that median.

• Welcome Nagar: Rs 1,100 per sq.ft (2024)
• V.O.C. Street(Jayaram nagar): Rs 1,100 per sq.ft (2024)
• V.O.C. Street (Iyappa nagar): Rs 1,700 per sq.ft (2024)
• V.O.C. nagar 2nd street: Rs 1,100 per sq.ft (2024)
• V.O.C.nagar 1st street: Rs 1,100 per sq.ft (2024)
• V.O.C. Nagar: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers V.V. Nagar?

The Sub Registrar Office that covers V.V. Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayappakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value is compared against the sale price. If the sale price is higher than the guideline value, the stamp duty and registration fees are calculated based on the sale price. This ensures that the registration reflects the true market value of the property.

Frequently asked questions

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

The current guideline value of V.V. Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 80 per sq.ft in 2003 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 1000% across the years.

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

The land classification for V.V. Nagar is Residential Class II Type - II.

What are the stamp duty and registration fees for property in V.V. Nagar?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers V.V. Nagar?

The Ambattur Sub Registrar Office covers V.V. Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.