Guideline Value for VIKARAM NAGAR

Vikaram Nagar guideline value

The current guideline value of Vikaram Nagar is Rs 485 per sq.ft, effective from 1 July 2024. This area is located in Vichoor_B village under the Thiruvottiyur Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Vikaram Nagar has changed

The guideline value for Vikaram Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 295 per sq.ft. This increased to Rs 441 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the value at Rs 485 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Vichoor_B

In Vichoor_B, there are 45 streets under the Thiruvottiyur SRO with a 2024 guideline value ranging from Rs 330 to Rs 550 per sq.ft. The median value for these streets is Rs 485 per sq.ft, which is the same as the guideline value for Vikaram Nagar.

• Vijay Nagar: Rs 485 per sq.ft (2024)
• Vellankulam: Rs 485 per sq.ft (2024)
• Velavan Nagar: Rs 485 per sq.ft (2024)
• Subramani Nagar: Rs 485 per sq.ft (2024)
• Subathra Nagar: Rs 330 per sq.ft (2024)
• St. Thomas Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Vikaram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 485 per sq.ft, the total guideline value would be Rs 4,85,000. The stamp duty at 7% would be Rs 33,950, and the registration fee at 2% would be Rs 9,700, bringing the total cost for these fees to Rs 43,650. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Vikaram Nagar?

The Sub Registrar Office that covers Vikaram Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vichoor_B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Vikaram Nagar?

The current guideline value of Vikaram Nagar is Rs 485 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 295 per sq.ft in 2017 to Rs 485 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the classification of land in Vikaram Nagar?

Vikaram Nagar is classified as Residential Class I Type - I under the Thiruvottiyur SRO.

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

For a property valued at Rs 4,85,000, the stamp duty would be Rs 33,950 and the registration fee would be Rs 9,700, totaling Rs 43,650.

Which office handles property registrations for Vikaram Nagar?

The Thiruvottiyur Sub Registrar Office handles property registrations for Vikaram Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.