Guideline Value for VIP NAGAR

Vip Nagar guideline value

The current guideline value of Vip Nagar is Rs 1,000 per sq.ft as per the 2023 revision. This area is located in Melakottyur village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this region is Residential Special Type - III.

How the guideline value of Vip Nagar has changed

The guideline value for Vip Nagar has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 670 per sq.ft, marking a decrease of 33%. However, in the 2023 revision, the guideline value increased to Rs 1,000 per sq.ft again, reflecting a rise of 49% from the previous revision.

Overall, from the 2012 revision to the 2023 revision, there has been no change in the guideline value, remaining at Rs 1,000 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.

Guideline values in Melakottyur

Currently, there are no specific village figures available for Melakottyur. Vip Nagar is part of this village, and there are no other streets in Melakottyur under the Gooduvancheri SRO listed at this time.

Stamp duty and registration fee for property in Vip Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is essential to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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 Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Melakottyur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used to assess the amount of tax payable during the registration process, ensuring that the transaction is recorded accurately in the official register.

It's important for buyers and sellers to be aware of the current guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during property dealings in the area.

Frequently asked questions

What is the current guideline value of Vip Nagar?

The current guideline value of Vip Nagar is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, and then back to Rs 1,000 per sq.ft in 2023.

What is the land classification for Vip Nagar?

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

Where is the Gooduvancheri Sub Registrar Office located?

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

How is stamp duty calculated for property in Vip Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 70,000.