Guideline Value for VMR Nagar ( I To III )

VMR Nagar ( I To III ) guideline value

The current guideline value of VMR Nagar ( I To III ) is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of VMR Nagar ( I To III ) has changed

The guideline value for VMR Nagar ( I To III ) has undergone several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2017 revision, where it was also Rs 250 per sq.ft. However, in the 2017 revision, there was a significant increase of 50% from the previous figure of Rs 167 per sq.ft in 2017. The 2023 revision maintained the value at Rs 250 per sq.ft, and the same value continues into the 2024 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value shows no change, remaining at Rs 250 per sq.ft.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing VMR Nagar ( I To III ) above this median.

• VMR Anex: Rs 250 per sq.ft (2024)
• Vishvakarma Nagar: Rs 200 per sq.ft (2024)
• VGP Vinoth Town: Rs 200 per sq.ft (2024)
• TV Room Street: Rs 175 per sq.ft (2024)
• Thirumallai Nagar: Rs 200 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in VMR Nagar ( I To III )

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 on these fees.

Which Sub Registrar Office covers VMR Nagar ( I To III )?

The Sub Registrar Office that covers VMR Nagar ( I To III ) is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, 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 Palnalloor

The guideline value plays a crucial role during the registration process of property transactions in Palnalloor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value is used to calculate the 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 VMR Nagar ( I To III )?

The current guideline value of VMR Nagar ( I To III ) is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since the 2012 revision, with a significant increase of 50% from Rs 167 per sq.ft in 2017. The value was also Rs 250 per sq.ft in the 2023 revision.

What are the guideline values of other streets in Palnalloor?

Other streets in Palnalloor have varying guideline values, with rates ranging from Rs 175 to Rs 471 per sq.ft. The median value for these streets is Rs 200 per sq.ft.

What are the stamp duty and registration fees for property in VMR Nagar ( I To III )?

For a 1,000 sq.ft plot, the stamp duty would be Rs 17,500 and the registration fee would be Rs 5,000, totaling Rs 22,500, based on the guideline value of Rs 2,50,000.

Where is the Sub Registrar Office for VMR Nagar ( I To III ) located?

The Sub Registrar Office for VMR Nagar ( I To III ) is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.