Guideline Value for Vimal Nagar

Vimal Nagar guideline value

The current guideline value of Vimal Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Perumattu Nellore village under the Chengleput Joint II SRO and is classified as Residential Special Type - II.

How the guideline value of Vimal Nagar has changed

The guideline value for Vimal Nagar has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, from 2012 to 2017, the value decreased by 33% to Rs 469 per sq.ft. The subsequent revisions in 2023 and 2024 have maintained the value at Rs 700 per sq.ft, indicating no change between these two years.

Looking at the overall changes, the guideline value has increased by 180% from Rs 250 per sq.ft in 2007 to Rs 700 per sq.ft in 2024. The register for the years 2002 and 2003 does not have any figures for this street.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of Vimal Nagar.

• Vijay Avenue: Rs 500 per sq.ft (2024)
• Vijayapuram: Rs 500 per sq.ft (2024)
• Vetri Velan Nagar: Rs 500 per sq.ft (2024)
• Varadharaji Nagar: Rs 800 per sq.ft (2024)
• Vanavil Avenue: Rs 501 per sq.ft (2024)
• Vaigai Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vimal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that 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 Vimal Nagar?

The Sub Registrar Office covering Vimal Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumattu Nellore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used for duty calculations.

Frequently asked questions

What is the current guideline value of Vimal Nagar?

The current guideline value of Vimal Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 700 per sq.ft in 2024, with notable fluctuations in between.

What are the other streets in Perumattu Nellore with their guideline values?

Other streets in Perumattu Nellore include Vijay Avenue, Vijayapuram, Vetri Velan Nagar, Varadharaji Nagar, Vanavil Avenue, and Vaigai Nagar, with values ranging from Rs 500 to Rs 800 per sq.ft in 2024.

What are the fees associated with buying property in Vimal Nagar?

The fees associated with buying property in Vimal Nagar include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

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

The Sub Registrar Office for Vimal Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.