Guideline Value for Vimal Nagar

Vimal Nagar guideline value

The current guideline value of Vimal Nagar is Rs 600 per sq.ft, effective from 1 July 2024. This area is located in Atanancheri village and falls under the Gooduvancheri SRO, classified as Residential Special Type - I.

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 guideline value was Rs 160 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012, marking a remarkable increase of 275%. However, from 2012 to 2017, the value decreased to Rs 402 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 600 per sq.ft in 2023, and it remained unchanged in the 2024 revision.

Specifically, from 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a total increase of 275%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value for the village is Rs 700 per sq.ft, placing Vimal Nagar's 2024 figure below this median.

• Vigneshwara Nagar: Rs 600 per sq.ft (2024)
• V.S.Nagar Part -II: Rs 1,500 per sq.ft (2024)
• Walajabad Road: Rs 2,500 per sq.ft (2024)
• Winneer Form: Rs 800 per sq.ft (2024)
• Vedhadri Maharishi Nagar: Rs 600 per sq.ft (2024)
• Vasantha Nagar: Rs 600 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 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty, charged at 7%, would be Rs 42,000, while the registration fee at 2% would be Rs 12,000. Therefore, the total cost for stamp duty and registration would be Rs 54,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Vimal Nagar?

The Sub Registrar Office that covers Vimal Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Atanancheri. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers must ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

When registering a property, the guideline value helps ensure transparency and fairness in transactions. It provides a standardized measure for valuing properties in the area, which can help both buyers and sellers understand the market better.

Frequently asked questions

What is the current guideline value of Vimal Nagar?

The current guideline value of Vimal Nagar is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen fluctuations, with significant increases and decreases. From 2007 to 2012, it rose from Rs 160 to Rs 600, then dropped to Rs 402 in 2017, before stabilizing at Rs 600 in 2023 and 2024.

What is the median guideline value in Atanancheri?

The median guideline value in Atanancheri is Rs 700 per sq.ft, with Vimal Nagar's current value being below this median.

What are the stamp duty and registration fees for Vimal Nagar?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000.

Where is the Sub Registrar Office for Vimal Nagar located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.