Guideline Value for VIP CITY

Vip City guideline value

The current guideline value of Vip City, located in Uthiramerur village, is Rs 501 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II, under the Uthiramerur SRO.

How the guideline value of Vip City has changed

The guideline value for Vip City has undergone several revisions over the years. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 500 per sq.ft, and in the 2024 revision, it increased slightly to Rs 501 per sq.ft, reflecting a change of +0% between these two years.

Thus, the most recent guideline value stands at Rs 501 per sq.ft as of 1 July 2024, following the 2023 figure of Rs 500 per sq.ft. There were no changes recorded for the years prior to 2023, making the recent revisions the only available data for this street.

Guideline values in Uthiramerur

In Uthiramerur, there are a total of 180 streets under the Uthiramerur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,800 per sq.ft, with a median value of Rs 800 per sq.ft. The guideline value for Vip City is below this median.

• Vivekanandha Nagar: Rs 300 per sq.ft (2024)
• Vengdaperumal Noyidu Street: Rs 1,500 per sq.ft (2024)
• Vengadaiya Pillai Street: Rs 1,200 per sq.ft (2024)
• Vellai Chetty Street: Rs 1,500 per sq.ft (2024)
• Veeraperumal Iyyangar Street: Rs 1,500 per sq.ft (2024)
• Vedapalayam Pandara Street: Rs 700 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 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, bringing the total cost for these fees to Rs 45,090. 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 Vip City?

The Sub Registrar Office that covers Vip City is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Uthiramerur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the buying or selling process.

When registering a property, the guideline value is used to calculate the applicable duties and fees, ensuring that these charges are based on a standardized value rather than the negotiated sale price.

Frequently asked questions

What is the current guideline value of Vip City?

The current guideline value of Vip City is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Vip City has remained stable at Rs 500 per sq.ft in 2023 and increased slightly to Rs 501 per sq.ft in 2024. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Uthiramerur?

Other streets in Uthiramerur have varying guideline values. For example, Vivekanandha Nagar is Rs 300 per sq.ft, while Vengdaperumal Noyidu Street is Rs 1,500 per sq.ft in 2024.

What fees are associated with buying property in Vip City?

When buying property in Vip City, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Vip City?

The Sub Registrar Office covering Vip City is located at No.16, Sundara Vardharaja Perumal Koil Sannathi Street, Uthiramerur- 603406, Chengalpattu registration zone.