Guideline Value for VN Nagar

VN Nagar guideline value

The current guideline value of VN Nagar, located in Maakaanyam village, is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of VN Nagar has changed

The guideline value for VN Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 50 per sq.ft. This increased significantly to Rs 200 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 134 per sq.ft. The most recent revisions in 2023 and 2024 have maintained the value at Rs 200 per sq.ft, showing no change from 2023 to 2024.

From 2017 to 2023, there was a notable increase of 49%. The overall change from 2007 to 2024 reflects a substantial increase of 300%, indicating a significant rise in the guideline value over the years.

Guideline values in Maakaanyam

In Maakaanyam, there are 41 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 600 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value of VN Nagar is below this median.

• Vinayagar Koil Street: Rs 150 per sq.ft (2024)
• Vasanthpuram: Rs 250 per sq.ft (2024)
• Udaiyar Street: Rs 150 per sq.ft (2024)
• Thirupathi Nagar: Rs 500 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 300 per sq.ft (2024)
• Sri Premkavaradhan Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in VN Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be 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 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.

Which Sub Registrar Office covers VN Nagar?

VN Nagar is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Maakaanyam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that the transaction is documented accurately. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of VN Nagar?

The current guideline value of VN 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 changed from Rs 50 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, decreased to Rs 134 per sq.ft in 2017, and has remained at Rs 200 per sq.ft in both 2023 and 2024.

What is the median guideline value in Maakaanyam?

The median guideline value in Maakaanyam is Rs 250 per sq.ft, with VN Nagar's current value being below this median.

What fees are associated with buying property in VN Nagar?

When buying property in VN Nagar, the stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 18,000 based on the current guideline value.

Where can I find the Sub Registrar Office for VN Nagar?

The Sub Registrar Office covering VN Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the relevant link.