Guideline Value for Vimal Nagar

Vimal Nagar guideline value

The current guideline value of Vimal Nagar is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Navaloor village and falls under the Sriperumpudur SRO, classified as Residential Class I Type - I.

How the guideline value of Vimal Nagar has changed

The guideline value of Vimal Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 180 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. However, there was a decrease to Rs 201 per sq.ft in the 2017 revision, before rising again to Rs 300 per sq.ft in both the 2023 and 2024 revisions. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, while from 2012 to 2017, it decreased by 33%. The value saw a significant increase of 67% from 2007 to 2012, and overall, from 2007 to 2024, the guideline value has increased by 67%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,100 per sq.ft. The median value is Rs 300 per sq.ft, making Vimal Nagar's 2024 figure equal to this median.

• Vishnupriya Nagar: Rs 150 per sq.ft (2024)
• Vanniyar Street: Rs 150 per sq.ft (2024)
• Thirupathi Nagar: Rs 300 per sq.ft (2024)
• Sriperumpudur Royal Lands Co-Op Maha Nagar: Rs 610 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 450 per sq.ft (2024)
• Sivam Nagar Part -II: Rs 500 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 300 per sq.ft, the guideline value is Rs 3,00,000. The stamp duty at 7% amounts to Rs 21,000, and the registration fee at 2% is Rs 6,000, totaling Rs 27,000. 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 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 Navaloor

The guideline value is a crucial factor during property registration in Navaloor. It serves as a benchmark for determining the stamp duty and registration fees applicable on property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, safeguarding both the buyer and seller's interests. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Vimal Nagar?

The current guideline value of Vimal 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 several times, with the most recent revisions being Rs 300 per sq.ft in 2023 and 2024. It was Rs 201 per sq.ft in 2017 and Rs 300 per sq.ft in 2012.

What are the other streets in Navaloor with their guideline values?

Other streets in Navaloor include Vishnupriya Nagar and Vanniyar Street at Rs 150 per sq.ft, Thirupathi Nagar at Rs 300 per sq.ft, and others ranging up to Rs 610 per sq.ft.

What is the registration fee for property in Vimal Nagar?

The registration fee for property in Vimal Nagar is calculated based on the guideline value. For example, for a property valued at Rs 3,00,000, the registration fee would be Rs 6,000 at 2%.

Where is the Sub Registrar Office for Vimal Nagar located?

The Sub Registrar Office covering Vimal Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.