Guideline Value for VIBHA

Vibha guideline value

The current guideline value of Vibha, located in Veeraragavapuram village under the Kunrathur SRO, is Rs 2,790 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Vibha has changed

The guideline value for Vibha has seen several revisions over the years. The 2017 revision set the value at Rs 1,700 per sq.ft. This increased significantly to Rs 2,538 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,790 per sq.ft, which represents a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Veeraragavapuram

In Veeraragavapuram, there are 10 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 770 to Rs 2,790 per sq.ft. The median value for these streets is Rs 990 per sq.ft, making Vibha's 2024 figure above that median.

• Swagatham Nagar: Rs 990 per sq.ft (2024)
• Sri Gayathri Co-Operative Mega Nagar: Rs 990 per sq.ft (2024)
• Pilliyar Koil Street: Rs 990 per sq.ft (2024)
• Park street: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 990 per sq.ft (2024)
• Avadi Main Road: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Vibha

For a 1,000 sq.ft plot at the current guideline value of Rs 2,790 per sq.ft, the total guideline value amounts to Rs 27,90,000. The stamp duty at 7% would be Rs 1,95,300, while the registration fee at 2% would be Rs 55,800. Together, the total cost for stamp duty and registration would be Rs 2,51,100. Please 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 Vibha?

The Sub Registrar Office covering Vibha is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Veeraragavapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Vibha?

The current guideline value of Vibha is Rs 2,790 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,700 per sq.ft in 2017 to Rs 2,790 per sq.ft in 2024, reflecting a total increase of 64% over this period.

What are the other streets in Veeraragavapuram?

Other streets in Veeraragavapuram include Swagatham Nagar, Sri Gayathri Co-Operative Mega Nagar, Pilliyar Koil Street, Park street, Bharathi Nagar, and Avadi Main Road, each with their respective guideline values for 2024.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same value. For example, for a plot valued at Rs 27,90,000, the stamp duty would be Rs 1,95,300 and the registration fee Rs 55,800.

Where is the Sub Registrar Office for Vibha located?

The Kunrathur Sub Registrar Office, which covers Vibha, is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles all property registrations in the area.