Guideline Value for VIP NAGAR PHASE - IV

Vip Nagar Phase - IV guideline value

The current guideline value of Vip Nagar Phase - IV is Rs 660 per sq.ft, effective from 1 July 2024. This property is located in Thirukkachur - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vip Nagar Phase - IV has changed

The guideline value for Vip Nagar Phase - IV has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, an increase from Rs 600 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, the register has no figure for this street from the revisions in 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024. This current figure is equal to the median value of Rs 660 per sq.ft for the 86 streets in Thirukkachur - 1 under the Chengleput Joint II SRO.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, the guideline values for various streets range from Rs 385 to Rs 3,300 per sq.ft, with the median value being Rs 660 per sq.ft. Vip Nagar Phase - IV, with its guideline value of Rs 660 per sq.ft, aligns with this median.

• Vip Nagar Phase -V: Rs 660 per sq.ft (2024)
• Vip Nagar: Rs 660 per sq.ft (2024)
• Vivekanda Nagar Phase -3: Rs 660 per sq.ft (2024)
• Vinayaga Moorthy Nagar: Rs 2,200 per sq.ft (2024)
• V O C Cross Street: Rs 385 per sq.ft (2024)
• V O C Street: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Vip Nagar Phase - IV

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 details.

Which Sub Registrar Office covers Vip Nagar Phase - IV?

The Sub Registrar Office that covers Vip Nagar Phase - IV is 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 Thirukkachur - 1

The guideline value plays a crucial role during the registration of property transactions in Thirukkachur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is considered to ensure compliance with legal requirements. It helps in safeguarding the interests of both buyers and sellers, as it establishes a transparent pricing mechanism for property transactions.

Frequently asked questions

What is the current guideline value of Vip Nagar Phase - IV?

The current guideline value of Vip Nagar Phase - IV is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, marking a change of +10%.

What is the classification of land in Vip Nagar Phase - IV?

Vip Nagar Phase - IV is classified as Residential Class I Type - I, which indicates its intended use for residential purposes.

Which Sub Registrar Office covers this area?

The Chengleput Joint II Sub Registrar Office covers Vip Nagar Phase - IV, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 660 per sq.ft, the total fees would amount to Rs 59,400.