Guideline Value for VIP CITY

Vip City guideline value

The current guideline value of Vip City, located in Puzhuthivakkam village, is Rs 250 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam SRO and is classified as Residential Class I Type - II.

How the guideline value of Vip City has changed

The guideline value for Vip City has seen several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft. Following that, the 2023 revision brought it back to Rs 250 per sq.ft, and the current 2024 revision maintains this rate, showing no change from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 50%. Overall, from 2012 to 2024, the guideline value has remained stable, with no change in the rate.

Guideline values in Puzhuthivakkam

In Puzhuthivakkam, there are 11 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 200 per sq.ft. Vip City's guideline value is above this median.

• VIP CITY in RDS GARDEN: Rs 150 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

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Vip City?

Vip City falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your SRO, please visit find your SRO.

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

The guideline value is a crucial factor during the registration process for property transactions in Puzhuthivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Vip City?

The current guideline value of Vip City is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2023, with a previous decrease to Rs 167 per sq.ft in 2017. The overall change from 2012 to 2024 shows no increase.

What is the land classification of Vip City?

Vip City is classified as Residential Class I Type - II, indicating its designation for residential purposes within the area.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000, with stamp duty at Rs 17,500 and registration fees at Rs 5,000, totaling Rs 22,500.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.