Guideline Value for Vimala Nagar

Vimala Nagar guideline value

The current guideline value of Vimala Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This area is part of Sriperumbudur A village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Vimala Nagar has changed

The guideline value for Vimala Nagar has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 700 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 469 per sq.ft, marking a 49% increase from 2017 to 2023, and an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Thus, the only revisions with recorded values are from 2017, 2023, and 2024.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with the median value being Rs 700 per sq.ft. Vimala Nagar's guideline value aligns with this median at Rs 700 per sq.ft.

• Vinayaga nagar: Rs 700 per sq.ft (2024)
• Vijaya Sankara Nagar: Rs 700 per sq.ft (2024)
• Vinus garden: Rs 700 per sq.ft (2024)
• Vishnuprakash Nagar: Rs 700 per sq.ft (2024)
• Vignesh Nagar: Rs 700 per sq.ft (2024)
• Vivekanandapuram: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Vimala Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total fees together 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 detailed calculations.

Which Sub Registrar Office covers Vimala Nagar?

The Sub Registrar Office that covers Vimala 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 Sriperumbudur A

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

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the registration reflects the true value of the property in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Vimala Nagar?

The current guideline value of Vimala 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 remained at Rs 700 per sq.ft from 2023 to 2024, while it increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, marking a 49% increase.

What is the land classification of Vimala Nagar?

Vimala Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and registration fees at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 700 per sq.ft incurs total fees of Rs 63,000.

Which office handles registrations for Vimala Nagar?

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