Guideline Value for VIP CITY CENTRAL SQUARE RADHA NAGAR

Vip City Central Square Radha Nagar guideline value

The current guideline value of Vip City Central Square Radha Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Janagipuram village, under the Madurandakam SRO, with a land classification of Mixed Type - I.

How the guideline value of Vip City Central Square Radha Nagar has changed

The guideline value for Vip City Central Square Radha Nagar has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was set at Rs 300 per sq.ft. In 2017, this value decreased to Rs 201 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%, bringing it back to Rs 300 per sq.ft. The 2024 revision maintained this value at Rs 300 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Janagipuram

In Janagipuram, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 448 per sq.ft. The guideline value of Vip City Central Square Radha Nagar is equal to the median value of Rs 300 per sq.ft for these streets.

• Mary Joseph Nagar: Rs 448 per sq.ft (2024)
• Jr Garden: Rs 300 per sq.ft (2024)
• Jai Nagar Phase-II: Rs 200 per sq.ft (2024)
• Jai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Vip City Central Square Radha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vip City Central Square Radha Nagar?

The Sub Registrar Office that covers Vip City Central Square Radha 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 Janagipuram

The guideline value is a crucial factor during the registration process of property transactions in Janagipuram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This ensures transparency and compliance with local regulations, as the fees are calculated based on this established value.

Frequently asked questions

What is the current guideline value of Vip City Central Square Radha Nagar?

The current guideline value of Vip City Central Square Radha Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023 and 2024, with a significant increase of 49% from 2017 to 2023.

What are the other streets in Janagipuram with their guideline values?

Other streets in Janagipuram include Mary Joseph Nagar at Rs 448 per sq.ft, Jr Garden at Rs 300 per sq.ft, Jai Nagar Phase-II at Rs 200 per sq.ft, and Jai Nagar at Rs 200 per sq.ft.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 300 per sq.ft incurs a total stamp duty and registration fee of Rs 27,000.

Where is the Sub Registrar Office for Vip City Central Square Radha Nagar located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone, covering Vip City Central Square Radha Nagar.