Guideline Value for VIP CITY in RDS GARDEN

VIP CITY in RDS GARDEN guideline value

The current guideline value of VIP CITY in RDS GARDEN is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Puzhuthivakkam village, under the Madurandakam SRO, and is classified as a New House Site Type -I (Individual House Site).

How the guideline value of VIP CITY in RDS GARDEN has changed

Over the years, the guideline value of VIP CITY in RDS GARDEN has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft. This was a decrease of 33%. However, the following revisions saw an increase, with the 2017 to 2023 revision rising to Rs 150 per sq.ft, marking a 50% increase. The current value of Rs 150 per sq.ft has been maintained from the 2023 revision to the 2024 revision, showing no change.

The guideline value register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the only revisions available are from 2012, 2017, 2023, and 2024.

Guideline values in Puzhuthivakkam

Puzhuthivakkam village has a range of guideline values for its streets, with 11 streets under the Madurandakam SRO carrying a 2024 figure ranging from Rs 100 to Rs 250 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing VIP CITY's 2024 figure below that median.

• VIP City: Rs 250 per sq.ft (2024)
• Thirumalai Nagar: Rs 200 per sq.ft (2024)
• Thirumagal Nagar: Rs 200 per sq.ft (2024)
• Sri Sai Ramana Gorden: Rs 100 per sq.ft (2024)
• Sri Sai Garden: Rs 200 per sq.ft (2024)
• Sri Raghavendra Nagar Phase-I: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in VIP CITY in RDS GARDEN

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty is charged at 7%, which totals Rs 10,500, and the registration fee at 2% amounts to Rs 3,000. Together, the total fee would be Rs 13,500. 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 VIP CITY in RDS GARDEN?

The Sub Registrar Office that covers VIP CITY in RDS GARDEN 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Puzhuthivakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to determine the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers must be aware of these values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for VIP CITY in RDS GARDEN?

The current guideline value for VIP CITY in RDS GARDEN is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a decrease to Rs 100 per sq.ft in 2017, followed by an increase back to Rs 150 per sq.ft in 2023. The value has remained unchanged from 2023 to 2024.

What are the guideline values for other streets in Puzhuthivakkam?

Other streets in Puzhuthivakkam have varying guideline values, ranging from Rs 100 to Rs 250 per sq.ft. The median for these streets is Rs 200 per sq.ft.

What is the stamp duty for property in VIP CITY in RDS GARDEN?

The stamp duty for property in VIP CITY in RDS GARDEN is 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 10,500.

Which office handles registrations for VIP CITY in RDS GARDEN?

The Madurandakam Sub Registrar Office handles registrations for VIP CITY in RDS GARDEN, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu zone.