Guideline Value for VMR Nagar

VMR Nagar guideline value

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

How the guideline value of VMR Nagar has changed

The guideline value for VMR Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 134 per sq.ft, which remained unchanged in the 2023 revision at Rs 200 per sq.ft. The most recent revision in 2024 also maintains this value at Rs 200 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, there has been a consistent increase of 49%, reflecting the stability in the guideline value over the last few years.

Guideline values in Santhavellur_C

In Santhavellur_C, there are 52 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 200 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing VMR Nagar's 2024 figure below this median.

• Vinatha Nagar: Rs 300 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, while the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that the 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 VMR Nagar?

The Sub Registrar Office covering 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Santhavellur_C. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value is used to calculate the fees, ensuring that both buyers and sellers are aware of the financial implications associated with the transaction. This transparency helps in maintaining a fair process during property dealings.

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 for VMR Nagar has remained at Rs 200 per sq.ft from 2023 to 2024, with a previous increase of 49% from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the median guideline value in Santhavellur_C?

The median guideline value for streets in Santhavellur_C is Rs 350 per sq.ft, while VMR Nagar's 2024 figure is below this median.

What are the stamp duty rates for property in VMR Nagar?

The stamp duty rate for property transactions in VMR Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles registrations for VMR Nagar?

The Sunguvarchattram Sub Registrar Office is responsible for handling registrations for VMR Nagar, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu.