Guideline Value for V.G.N Garden

V.G.N Garden guideline value

The current guideline value of V.G.N Garden, located in 1. Nolambur village under the Villivakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

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

The guideline value of V.G.N Garden has seen significant changes over the years. In the 2017 revision, the value was set at Rs 4,355 per sq.ft. This figure increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 established the guideline value at Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

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, with the median value being Rs 7,100 per sq.ft. V.G.N Garden's 2024 figure aligns with this median value.

• V.G.N Enclave: 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 Garden

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

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

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

The V.G.N Garden area is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions within 1. Nolambur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has 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.

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

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

What are the stamp duty and registration fees for V.G.N Garden?

For a property valued at the current guideline value of Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

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

The land classification for V.G.N Garden is Residential Special Type - I, indicating its designated use for residential purposes.