Guideline Value for VN Nagar

VN Nagar guideline value

The current guideline value of VN Nagar, located in Vellarai village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of VN Nagar has changed

Looking at the revisions over the years, the guideline value for VN Nagar has seen several changes. In 2007, the guideline value was Rs 25 per sq.ft, which increased significantly to Rs 300 per sq.ft in 2012. However, it then decreased to Rs 201 per sq.ft in 2017. The guideline value remained at Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change in this period. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 was a substantial 1100%. Overall, from the 2007 revision to the 2024 revision, the increase is also 1100%, reflecting significant growth in the guideline value over these years.

Guideline values in Vellarai

In Vellarai village, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft, with the median being Rs 300 per sq.ft. VN Nagar's 2024 guideline value aligns with this median.

• Srimathi city: Rs 300 per sq.ft (2024)
• Sbk Avenue Phase II: Rs 400 per sq.ft (2024)
• Sbk Avenue Phase I: Rs 400 per sq.ft (2024)
• Royal Lands Co-op Maha Nagar Phase II: Rs 600 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Pokkisham 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty, calculated at 7%, would be Rs 21,000, while the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. 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 further calculations.

Which Sub Registrar Office covers VN Nagar?

The VN Nagar area 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 Vellarai

The guideline value plays a crucial role in the registration process of property transactions in Vellarai. When buying or selling property, the guideline value is used as a benchmark to determine the applicable stamp duty and registration fees. This ensures that the fees reflect the official valuation of the property.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. Understanding the current guideline value helps in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of VN Nagar?

The current guideline value of VN Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 25 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017. It has remained at Rs 300 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for VN Nagar?

VN Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 27,000.

Which office handles registrations for VN Nagar?

The Sriperumpudur Sub Registrar Office handles registrations for VN Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.