Guideline Value for V.G. Nagar

V.G. Nagar guideline value

The current guideline value of V.G. Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Grandlyon village, under the Redhills SRO, and is classified as Residential Class III Type - I.

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

The guideline value for V.G. Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, but then decreased to Rs 268 per sq.ft in 2017. The 2023 revision saw an increase to Rs 400 per sq.ft, followed by a further rise to Rs 440 per sq.ft in 2024.

Notably, the changes between revisions include a 100% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and a 10% increase from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. The guideline value of V.G. Nagar is below this median.

• Vijai Nagar: Rs 770 per sq.ft (2024)
• Vishnu Nagar: Rs 440 per sq.ft (2024)
• Vishnu Nagar Annex: Rs 440 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 440 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 770 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees together Rs 39,600. The duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G. Nagar?

V.G. Nagar falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Grandlyon. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps determine the applicable stamp duty, which is calculated on the higher of the guideline value or the sale price. This ensures transparency and fairness in property transactions within the region.

Frequently asked questions

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

The current guideline value of V.G. Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting various increases and decreases through the years.

What is the registration office for V.G. Nagar?

The registration office for V.G. Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty rates applicable in V.G. Nagar?

The stamp duty rate in V.G. Nagar is 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2%.

Where can I find the guideline values for other streets in Grandlyon?

You can find the guideline values for other streets in Grandlyon by referring to the respective links provided for each street's guideline value.