Guideline Value for V.G.N Nagar (ward 4)

V.G.N Nagar (ward 4) guideline value

The current guideline value of V.G.N Nagar (ward 4) is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village and falls under the Pammal SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of V.G.N Nagar (ward 4) has changed

The guideline value for V.G.N Nagar (ward 4) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,860 per sq.ft, which is an increase from Rs 2,600 per sq.ft in 2023. Prior to that, the 2017 revision recorded a guideline value of Rs 1,742 per sq.ft. The register has no figures for the years 2012, 2007, 2003, and 2002 for this street.

Between the 2023 and 2024 revisions, there was a 10% increase. From 2017 to 2023, the value rose by 49%, and overall, from 2017 to 2024, the guideline value increased by 64%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO with the 2024 guideline values ranging from Rs 1,100 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing V.G.N Nagar (ward 4) above that median.

• V.G.N Nagar (ward 8): Rs 2,860 per sq.ft (2024)
• V.G.N Pratish Avenue: Rs 2,860 per sq.ft (2024)
• Vgn Krona Phase-2: Rs 2,860 per sq.ft (2024)
• V.G.N. Krona Avenue: Rs 2,860 per sq.ft (2024)
• Vignesh Nagar: Rs 1,980 per sq.ft (2024)
• Venkateswara Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N Nagar (ward 4)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value amounts to Rs 28,60,000. The stamp duty at 7% would be Rs 2,00,200, and the registration fee at 2% would be Rs 57,200, bringing the total to Rs 2,57,400. 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 information.

Which Sub Registrar Office covers V.G.N Nagar (ward 4)?

The Sub Registrar Office that covers V.G.N Nagar (ward 4) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an important factor in the registration process when buying or selling property in Kerugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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 fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of V.G.N Nagar (ward 4)?

The current guideline value of V.G.N Nagar (ward 4) is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for V.G.N Nagar (ward 4)?

The land classification for V.G.N Nagar (ward 4) is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for V.G.N Nagar (ward 4)?

The Sub Registrar Office for V.G.N Nagar (ward 4) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in V.G.N Nagar (ward 4)?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 28,60,000, the stamp duty at 7% would be Rs 2,00,200.