Guideline Value for VIGILANCE NAGAR

Vigilance Nagar guideline value

The current guideline value of Vigilance Nagar is Rs 551 per sq.ft, effective from 1 July 2024. This locality is situated in Kadampur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vigilance Nagar has changed

The guideline value for Vigilance Nagar has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This value remained unchanged until the next revision in 2017, where it decreased to Rs 335 per sq.ft. In 2023, the guideline value increased to Rs 500 per sq.ft, and it further rose to Rs 551 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the overall change from 2012 to 2024 reflects a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kadampur

In Kadampur, there are a total of 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 2,200 per sq.ft. The median value for these streets is Rs 551 per sq.ft, which is equal to the current guideline value of Vigilance Nagar.

• V.O.C Street (Kod): Rs 551 per sq.ft (2024)
• Yerikkarai Street (Ward -9): Rs 551 per sq.ft (2024)
• Vanchinathan Nagar (Kod): Rs 551 per sq.ft (2024)
• T.N.H.B.Coodalur Village (Ward -9): Rs 551 per sq.ft (2024)
• Thirumalai Premimum County (Ward -9): Rs 1,100 per sq.ft (2024)
• Thirukural Nagar (Kod): Rs 551 per sq.ft (2024)

Stamp duty and registration fee for property in Vigilance Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 551 per sq.ft, the total guideline value would be Rs 5,51,000. The stamp duty, charged at 7%, would amount to Rs 38,570, while the registration fee at 2% would be Rs 11,020. Together, these fees would total Rs 49,590. 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 Vigilance Nagar?

The Sub Registrar Office that covers Vigilance 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 Kadampur

The guideline value is a crucial factor during the registration process of property transactions in Kadampur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for taxation purposes. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Vigilance Nagar?

The current guideline value of Vigilance Nagar is Rs 551 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 500 in 2012 to Rs 335 in 2017, then back to Rs 500 in 2023, and finally to Rs 551 in 2024.

What is the land classification for Vigilance Nagar?

Vigilance Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Vigilance Nagar?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for Vigilance Nagar.

How is stamp duty calculated in Vigilance Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 551 per sq.ft, the total guideline value would be Rs 5,51,000, leading to specific stamp duty and registration fees.