Guideline Value for V.G. Nagar

V.G. Nagar guideline value

The current guideline value of V.G. Nagar in Venkadu village is Rs 310 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of V.G. Nagar has changed

The guideline value for V.G. Nagar has seen several revisions over the years. In 2007, the value was set at Rs 35 per sq.ft. This figure increased significantly to Rs 300 per sq.ft in 2012, marking a rise of 757%. However, from 2012 to 2017, the value decreased to Rs 201 per sq.ft, reflecting a drop of 33%. Following this, the guideline value rose to Rs 300 per sq.ft in 2023, and most recently, it has increased to Rs 310 per sq.ft in 2024, which is a 3% increase.

Overall, from 2007 to 2024, the guideline value has increased by 786%. The revisions for 2002 and 2003 do not have figures available for this street.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing V.G. Nagar's 2024 figure above that median.

• VG Nagar Extension: Rs 310 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 300 per sq.ft (2024)
• Sree Bhuvaneswari Nagar: Rs 300 per sq.ft (2024)
• Siva Vishnu Garden: Rs 300 per sq.ft (2024)
• Shanthi Nagar: Rs 300 per sq.ft (2024)
• Royal Farms: Rs 310 per sq.ft (2024)

Stamp duty and registration fee for property in V.G. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 310 per sq.ft, the total guideline value amounts to Rs 3,10,000. The stamp duty, charged at 7%, would be Rs 21,700, and the registration fee at 2% would be Rs 6,200, bringing the total fees to Rs 27,900. 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 more details.

Which Sub Registrar Office covers V.G. Nagar?

The Sub Registrar Office covering V.G. 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 Venkadu

The guideline value is a critical factor in property transactions within Venkadu. It serves as a benchmark for determining the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the registration process will consider the higher value between the agreed sale price and the guideline value.

This ensures that the registration fees and stamp duties are calculated accurately based on the guideline value, safeguarding the interests of both buyers and sellers in property transactions. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with legal requirements during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of V.G. Nagar?

The current guideline value of V.G. Nagar is Rs 310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 35 per sq.ft in 2007 to Rs 310 per sq.ft in 2024, marking an overall increase of 786% over this period.

What is the median guideline value in Venkadu?

The median guideline value for the streets in Venkadu is Rs 300 per sq.ft, with V.G. Nagar's 2024 figure being above this median.

What are the stamp duty and registration fees for property in V.G. Nagar?

The stamp duty for property in V.G. Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 27,900 based on the current guideline value.

Where is the Sub Registrar Office for V.G. Nagar located?

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