Guideline Value for VIP NAGAR EXTN

Vip Nagar Extn guideline value

The current guideline value of Vip Nagar Extn is Rs 1,300 per sq.ft, as per the 2023 revision. This area falls under Rathinamangalam village, and is registered with the Gooduvancheri SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Vip Nagar Extn has changed

Over the years, the guideline value of Vip Nagar Extn has seen several revisions. The 2012 revision set the guideline value at Rs 1,300 per sq.ft, which remained unchanged in the 2023 revision. However, between the 2012 and 2017 revisions, there was a decrease to Rs 871 per sq.ft, marking a decline of 33%. The most notable change occurred from 2017 to 2023, where the guideline value increased by 49% to reach the current rate of Rs 1,300 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street. Overall, from 2012 to 2023, the guideline value has remained stable, with no net change.

Guideline values in Rathinamangalam

Currently, there are no specific village figures provided for Rathinamangalam. Vip Nagar Extn is the only street mentioned in the context of the guideline value under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Vip Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, the total cost for stamp duty and registration would be Rs 1,17,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vip Nagar Extn?

The Sub Registrar Office that covers Vip Nagar Extn is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Rathinamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered. The authorities use this value to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the higher value between the guideline value and the sale price is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions based on established values.

Frequently asked questions

What is the current guideline value of Vip Nagar Extn?

The current guideline value of Vip Nagar Extn is Rs 1,300 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,300 per sq.ft in 2012 to Rs 871 per sq.ft in 2017, a decrease of 33%. From 2017 to 2023, it increased by 49% back to Rs 1,300 per sq.ft.

What is the land classification for Vip Nagar Extn?

Vip Nagar Extn is classified as Commercial Class I Type - II. This classification is important for understanding the potential uses of land in this area.

What fees apply when registering property in Vip Nagar Extn?

When registering property in Vip Nagar Extn, stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.