Guideline Value for V.G.N Enclave

V.G.N Enclave guideline value

The current guideline value of V.G.N Enclave is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in 1. Nolambur village under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of V.G.N Enclave has changed

The guideline value for V.G.N Enclave has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, marking a 9% increase from the previous year. Overall, from 2017 to 2024, the guideline value has risen by 63%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The significant increase from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024 reflects the changes in the guideline value over time.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 7,100 per sq.ft, which is equal to the current guideline value for V.G.N Enclave.

• V.G.N Garden: Rs 7,100 per sq.ft (2024)
• V.G.N LA Parisienme: Rs 7,100 per sq.ft (2024)
• V.G.N Avenue Phase IV: Rs 7,100 per sq.ft (2024)
• V.G.N.Aster: Rs 7,100 per sq.ft (2024)
• V.G.N Minaurva: Rs 7,100 per sq.ft (2024)
• V.G.N. Monte Carlo: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total cost for these fees to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers V.G.N Enclave?

The Sub Registrar Office that covers V.G.N Enclave is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in the registration process when buying or selling property in 1. Nolambur. It determines the stamp duty and registration fees that must be paid, ensuring that the transaction is legally recorded and the appropriate taxes are collected.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives its due revenue based on the property's value.

Frequently asked questions

What is the current guideline value of V.G.N Enclave?

The current guideline value of V.G.N Enclave is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024. This represents a total increase of 63% from 2017 to 2024.

What is the land classification for V.G.N Enclave?

V.G.N Enclave is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where can I find the Sub Registrar Office for V.G.N Enclave?

The Villivakkam Sub Registrar Office covers V.G.N Enclave and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in V.G.N Enclave?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 7,100 per sq.ft, the stamp duty would be Rs 4,97,000.