Guideline Value for VIP ENCLAVE

Vip Enclave guideline value

The current guideline value of Vip Enclave in Panangottur village, under the Chengleput Joint II SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Vip Enclave has changed

The guideline value for Vip Enclave has seen several revisions over the years. In 2012, the guideline value was Rs 1,600 per sq.ft. This remained the same until the 2017 revision, which saw a decrease to Rs 1,072 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, marking a 49% rise. The latest revision in 2024 has set the value at Rs 1,760 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, placing the 2024 guideline value of Vip Enclave above this median.

• Vishnupriya Avenue (Ward -2): Rs 1,650 per sq.ft (2024)
• Vivekananda Nagar (Ward -18): Rs 661 per sq.ft (2024)
• Villiery Palayam (Ward -15): Rs 440 per sq.ft (2024)
• Villier Street Sattamangalam (Ward -15): Rs 440 per sq.ft (2024)
• Villier Colony (Ward -2): Rs 440 per sq.ft (2024)
• Vijayanaidu Street (Ward -17): Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Vip Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, leading to a total cost of Rs 1,58,400. 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 detailed calculations.

Which Sub Registrar Office covers Vip Enclave?

The Sub Registrar Office that covers Vip Enclave is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When a buyer purchases a property, the registration office uses the guideline value to calculate the applicable fees, ensuring that they reflect the current market standards. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Vip Enclave?

The current guideline value of Vip Enclave is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,760 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,072 per sq.ft in 2017 and an increase to Rs 1,600 per sq.ft in 2023.

What is the land classification of Vip Enclave?

Vip Enclave is classified as Residential Special Type - III, indicating its designated use for residential purposes.

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

The Chengleput Joint II Sub Registrar Office, which covers Vip Enclave, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Vip Enclave?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at the rate of 7%.