Guideline Value for VMR Nagar

VMR Nagar guideline value

The current guideline value of VMR Nagar, located in Santhavellur village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of VMR Nagar has changed

Over the years, the guideline value of VMR Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, marking a decrease of 33%. In 2023, the value returned to Rs 200 per sq.ft, and this figure remained stable into the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. Overall, comparing the 2012 and 2024 revisions, there has been no change, as the value remains at Rs 200 per sq.ft.

Guideline values in Santhavellur

In Santhavellur, there are 63 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 2,800 per sq.ft. The median value for these streets is Rs 500 per sq.ft, placing the 2024 guideline value of VMR Nagar below this median.

• Vinatha Nagar: Rs 305 per sq.ft (2024)
• Venus Nagar: Rs 400 per sq.ft (2024)
• Vasuki Nagar: Rs 700 per sq.ft (2024)
• Vasavi Nagar: Rs 700 per sq.ft (2024)
• Varasithi Vinayagar Street: Rs 200 per sq.ft (2024)
• Sunguvarchitram Walajabad Main Road: Rs 1,750 per sq.ft (2024)

Stamp duty and registration fee for property in VMR Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VMR Nagar?

The Sub Registrar Office that covers VMR Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Santhavellur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of VMR Nagar?

The current guideline value of VMR Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2023, but it dropped to Rs 134 per sq.ft in 2017 from Rs 200 in 2012. Overall, there has been no change from 2012 to 2024.

What is the land classification of VMR Nagar?

VMR Nagar falls under the Residential Class IV Type - I land classification.

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

The stamp duty is charged at 7%, and the registration fee is 2%. For a property valued at Rs 2,00,000, the total fees would be Rs 18,000.

Which office handles property registration in VMR Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for property registration in VMR Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company.