Guideline Value for VIP NAGAR

Vip Nagar guideline value

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

How the guideline value of Vip Nagar has changed

The guideline value for Vip Nagar has undergone several revisions over the years. Starting from the 2012 revision, the value was Rs 600 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 402 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the following years, rising to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, reflecting a 10% increase from the previous year and a 49% increase from 2017.

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

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current guideline value for Vip Nagar.

• Vip Nagar Phase - IV: Rs 660 per sq.ft (2024)
• Vip Nagar Phase -V: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Vip Nagar?

The Sub Registrar Office that covers Vip Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the 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 Thirukkachur - 1

The guideline value is a crucial factor during property transactions in Thirukkachur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value influences the calculation of stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Vip Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification of Vip Nagar?

Vip Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

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

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