Guideline Value for V.G.N. Nagar

V.G.N. Nagar guideline value

The current guideline value of V.G.N. Nagar, located in Kannampalayam village under the Kunrathur SRO, is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

The guideline value for V.G.N. Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 628 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012. However, this figure dropped to Rs 738 per sq.ft in 2017. The 2023 revision set the value at Rs 1,102 per sq.ft, and the most recent revision in 2024 has raised it to Rs 1,210 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 75%, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, the guideline value has increased by 93% from 2007 to 2024.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value for V.G.N. Nagar is below this median.

• V.G.V. Nagar: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar Extension: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar Extension II: Rs 1,210 per sq.ft (2024)
• Vallalar Nagar: Rs 880 per sq.ft (2024)
• Unnamalai Amman Nagar: Rs 765 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 885 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. It is important to note that 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 precise calculations.

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

The Sub Registrar Office that covers V.G.N. Nagar is 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 Kannampalayam

The guideline value is a crucial factor during the registration of property transactions in Kannampalayam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these charges are based on a standardized value set by the government.

When buying or selling property, the guideline value helps determine the financial obligations associated with the transaction. Buyers and sellers must be aware of these values to ensure compliance with local regulations and to understand the costs involved in the transfer of property ownership.

Frequently asked questions

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

The current guideline value of V.G.N. Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 628 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 93% over this period.

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

V.G.N. Nagar is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in V.G.N. Nagar?

For a property valued at Rs 12,10,000, the stamp duty would be Rs 84,700, and the registration fee would be Rs 24,200, totaling Rs 1,08,900.

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

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