Guideline Value for VLC 7 STAR NAGAR

Vlc 7 Star Nagar guideline value

The current guideline value of Vlc 7 Star Nagar is Rs 935 per sq.ft, effective from 1 July 2024. This area is located in Malayambakkam village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Vlc 7 Star Nagar has changed

The guideline value for Vlc 7 Star Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which was followed by a decrease to Rs 569 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 850 per sq.ft in the 2023 revision, and most recently, it rose to Rs 935 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Looking at the changes, from 2012 to 2017, there was a decrease of 33%. From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median guideline value is Rs 935 per sq.ft, which is equal to the current value of Vlc 7 Star Nagar.

• V.K. Avenue Extension: Rs 1,210 per sq.ft (2024)
• V.K. Avenue: Rs 935 per sq.ft (2024)
• Vlc Saravana Highway City: Rs 1,400 per sq.ft (2024)
• V.P.Nagar: Rs 935 per sq.ft (2024)
• V.S. Vijay Nagar: Rs 880 per sq.ft (2024)
• Vijay Kabilan Avenue: Rs 935 per sq.ft (2024)

Stamp duty and registration fee for property in Vlc 7 Star Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 935 per sq.ft, the total guideline value amounts to Rs 9,35,000. The stamp duty at 7% would be Rs 65,450, and the registration fee at 2% would be Rs 18,700, bringing the total to Rs 84,150. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Vlc 7 Star Nagar?

The Sub Registrar Office covering Vlc 7 Star Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor when buying or selling property in Malayambakkam, as it determines the minimum value at which a property can be registered. This value is used by the registration department to assess the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vlc 7 Star Nagar?

The current guideline value of Vlc 7 Star Nagar is Rs 935 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 569 per sq.ft in 2017, then increased to Rs 850 per sq.ft in 2023, and finally to Rs 935 per sq.ft in 2024.

What is the land classification for Vlc 7 Star Nagar?

Vlc 7 Star Nagar is classified as Residential Class I Type - I.

Where can I find the registration office for Vlc 7 Star Nagar?

The registration office for Vlc 7 Star Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Vlc 7 Star Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 9,35,000, with the stamp duty being Rs 65,450.