Guideline Value for V.G.N Nagar (ward 8)

V.G.N Nagar (ward 8) guideline value

The current guideline value of V.G.N Nagar (ward 8) is Rs 2,860 per sq.ft, effective from 1 July 2024. This area is located in Kerugambakkam village under the Pammal SRO and is classified as Commercial Class I Type - I.

How the guideline value of V.G.N Nagar (ward 8) has changed

The guideline value of V.G.N Nagar (ward 8) has seen several revisions over the years. The 2017 revision set the value at Rs 1,742 per sq.ft, which increased to Rs 2,600 per sq.ft in 2023. The most recent revision in 2024 raised the guideline value to Rs 2,860 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The change from 2017 to 2023 was a significant increase of 49%.

Guideline values in Kerugambakkam

In Kerugambakkam, there are 144 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,800 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for V.G.N Nagar (ward 8) is above this median.

• V.G.N Nagar (ward 4): 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 8)

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. 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 Nagar (ward 8)?

The Sub Registrar Office that covers V.G.N Nagar (ward 8) 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 information.

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

The guideline value plays a crucial role during property transactions in Kerugambakkam. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value ensures that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of V.G.N Nagar (ward 8)?

The current guideline value of V.G.N Nagar (ward 8) 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, reflecting a total increase of 64% over this period.

What is the stamp duty for property in V.G.N Nagar (ward 8)?

The stamp duty for property in V.G.N Nagar (ward 8) is set at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for V.G.N Nagar (ward 8)?

The Sub Registrar Office for V.G.N Nagar (ward 8) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the guideline values for other streets in Kerugambakkam?

Other streets in Kerugambakkam have varying guideline values. For instance, V.G.N Nagar (ward 4), V.G.N Pratish Avenue, and V.G.N. Krona Phase-2 all share the same guideline value of Rs 2,860 per sq.ft in 2024.