Guideline Value for VB NAGAR

Vb Nagar guideline value

The current guideline value of Vb Nagar, located in Melavalam village under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Vb Nagar has changed

Over the years, the guideline value of Vb Nagar has seen several revisions. The 2007 revision set the value at Rs 100 per sq.ft, which remained unchanged until the 2012 revision, where it increased to Rs 100 per sq.ft. In the 2017 revision, the value rose significantly to Rs 67 per sq.ft, reflecting a change of -33%. The 2023 revision maintained the value at Rs 200 per sq.ft, and the current 2024 revision also holds it at Rs 200 per sq.ft, indicating no change from the previous year. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 199%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 100%.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft, with a median value of Rs 350 per sq.ft. Vb Nagar's 2024 figure is below this median.

• Venkatesan Nagar: Rs 400 per sq.ft (2024)
• VKS BEST CITY PHASE II @ Sakthi Nagar: Rs 405 per sq.ft (2024)
• V.K.S.Group In Best City Extension - I: Rs 405 per sq.ft (2024)
• Vks Realty Inc In Best City: Rs 300 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Vb Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vb Nagar?

The Sub Registrar Office that covers Vb Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Melavalam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the official register.

Frequently asked questions

What is the current guideline value of Vb Nagar?

The current guideline value of Vb Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 200 per sq.ft. The value increased significantly from Rs 67 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification of Vb Nagar?

Vb Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value. For a plot valued at Rs 2,00,000, the total fees would amount to Rs 18,000.

Where is the Sub Registrar Office for Vb Nagar located?

The Madurandakam Sub Registrar Office, which covers Vb Nagar, is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.