Guideline Value for VLC TAMIZH NAGAR

Vlc Tamizh Nagar guideline value

The current guideline value of Vlc Tamizh Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024. This locality is situated in Mepur village, under the Kunrathur SRO, and is classified as Residential Special Type - III.

How the guideline value of Vlc Tamizh Nagar has changed

The guideline value for Vlc Tamizh Nagar has undergone several revisions over the years. The earliest recorded value is from 2017, which was Rs 900 per sq.ft. This figure increased to Rs 1,344 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 1,480 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mepur

Mepur village features 22 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 550 to Rs 2,955 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Vlc Tamizh Nagar is above this median, indicating its higher valuation compared to many other streets in the area.

• V.O.C. Street: Rs 770 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 770 per sq.ft (2024)
• Sri Srinivasa Co-op Nagar: Rs 770 per sq.ft (2024)
• Sri Sai Nagar: Rs 1,480 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Krishna Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Vlc Tamizh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,480 per sq.ft, the total guideline value amounts to Rs 14,80,000. The stamp duty at 7% would be Rs 1,03,600, and the registration fee at 2% would be Rs 29,600, bringing the total to Rs 1,33,200. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vlc Tamizh Nagar?

The Sub Registrar Office that covers Vlc Tamizh 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 Mepur

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Mepur, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This value serves as a benchmark, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Vlc Tamizh Nagar?

The current guideline value of Vlc Tamizh Nagar is Rs 1,480 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 900 per sq.ft in 2017 to Rs 1,480 per sq.ft in 2024, which is a total increase of 64% over this period.

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

For a property valued at Rs 14,80,000, the stamp duty would be Rs 1,03,600 and the registration fee would be Rs 29,600, totaling Rs 1,33,200.

Which Sub Registrar Office covers Vlc Tamizh Nagar?

The Kunrathur Sub Registrar Office covers Vlc Tamizh Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Vlc Tamizh Nagar?

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