Guideline Value for VIP CITY

Vip City guideline value

The current guideline value of Vip City, located in Thenoor village, under the Chengleput Joint II SRO, is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Vip City has changed

The guideline value of Vip City has undergone several revisions over the years. In 2012, the guideline value was set at Rs 350 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a reduction of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 350 per sq.ft. The 2024 revision has maintained this value, showing no change from the previous year.

It is important to note that the register does not provide figures for the years 2002, 2003, and 2007 for this street. Therefore, we only have the values from the revisions in 2012, 2017, 2023, and 2024 to consider for Vip City.

Guideline values in Thenoor

Currently, there are no specific village figures available for Thenoor. Vip City is part of the Chengleput Joint II SRO, which also includes other streets in Thenoor. Below are the guideline values for these streets:

• Honey City: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Vip City

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total fees to Rs 31,500. 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?

Vip City falls under the jurisdiction of 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 Thenoor

The guideline value plays a crucial role in the registration process when buying or selling property in Thenoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. It is essential for both buyers and sellers to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vip City?

The current guideline value of Vip City is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then back to Rs 350 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Vip City?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 31,500.

Which Sub Registrar Office covers Vip City?

Vip City is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

Are there other streets with different guideline values in Thenoor?

Yes, other streets in Thenoor include Honey City, which has a guideline value of Rs 800 per sq.ft as of 2024.