Guideline Value for V.G.N. Blooming Garden

V.G.N. Blooming Garden guideline value

The current guideline value of V.G.N. Blooming Garden is Rs 3,520 per sq.ft, effective from 1 July 2024. This property is located in Mogalivakkam village under the Kunrathur SRO, classified as Mixed Special Type - I.

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

The guideline value for V.G.N. Blooming Garden has seen several revisions over the years. In 2007, the value was Rs 750 per sq.ft, which increased significantly to Rs 3,200 per sq.ft in 2012, marking a rise of 327%. However, by 2017, the value decreased to Rs 2,144 per sq.ft, a drop of 33%. The value then rose again to Rs 3,200 per sq.ft in 2023, followed by a further increase to Rs 3,520 per sq.ft in 2024, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 369%.

The revisions for the years 2002 and 2003 do not have any figures listed for this street in the register. The most recent figures indicate a significant upward trend in the guideline value from the earlier years.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO, with the 2024 guideline values ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, placing V.G.N. Blooming Garden above this median.

• V.G.N. Brindavan Garden Extension: Rs 3,520 per sq.ft (2024)
• V.G.N Lakshmi Avenue: Rs 3,520 per sq.ft (2024)
• Vgn Royal Court: Rs 2,970 per sq.ft (2024)
• Vembadi Vinayakar Koil Street (V.V.K.S): Rs 2,860 per sq.ft (2024)
• Viswanathan Palani Street: Rs 2,860 per sq.ft (2024)
• Udhayam Avenue: Rs 2,860 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,520 per sq.ft, the guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, totaling Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

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

The V.G.N. Blooming Garden falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the Registration Department.

When buying or selling property, the guideline value must be considered as it directly impacts the financial obligations of the buyer. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of V.G.N. Blooming Garden is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2007 to Rs 3,520 per sq.ft in 2024, reflecting an overall increase of 369% over the years.

What is the land classification of V.G.N. Blooming Garden?

V.G.N. Blooming Garden is classified as Mixed Special Type - I under the land classification system.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800.

Which Sub Registrar Office should I visit for transactions in V.G.N. Blooming Garden?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, covers V.G.N. Blooming Garden.