Guideline Value for V.G.N. Southern County Phase-II

V.G.N. Southern County Phase-II guideline value

The current guideline value for V.G.N. Southern County Phase-II is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Kavanur village under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of V.G.N. Southern County Phase-II has changed

The guideline value for V.G.N. Southern County Phase-II has undergone several revisions over the years. In 2007, the guideline value was Rs 400 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, it then decreased to Rs 402 per sq.ft in 2017. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 600 per sq.ft, showing no change between these two years.

From 2017 to 2023, there was a significant increase of 49%. The overall change from 2007 to 2024 has been a 50% increase, reflecting the fluctuations in the guideline value across the years. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,239 per sq.ft, with the median being Rs 800 per sq.ft. The guideline value for V.G.N. Southern County Phase-II is below this median.

• Vgn Southern Meadows Phase IV: Rs 2,239 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• Vinoth Nagar: Rs 700 per sq.ft (2024)
• Vatchala Garden: Rs 500 per sq.ft (2024)
• Vrk Avenue: Rs 1,000 per sq.ft (2024)
• Vaishnavi Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.N. Southern County Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.N. Southern County Phase-II?

The V.G.N. Southern County Phase-II is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kavanur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When registering a property, the guideline value ensures that all transactions are conducted fairly and transparently. Buyers and sellers must be aware of the current guideline value to accurately assess the costs involved in the registration process.

Frequently asked questions

What is the current guideline value for V.G.N. Southern County Phase-II?

The current guideline value for V.G.N. Southern County Phase-II is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase of 49% from 2017 to 2023, but it has remained the same at Rs 600 per sq.ft for both 2023 and 2024. The overall change from 2007 to 2024 is an increase of 50%.

What are the guideline values of other streets in Kavanur?

Other streets in Kavanur have varying guideline values, ranging from Rs 500 to Rs 2,239 per sq.ft. For example, Vgn Southern Meadows Phase IV is at Rs 2,239 per sq.ft, while Vijayalakshmi Nagar is at Rs 500 per sq.ft.

What fees are associated with buying property in V.G.N. Southern County Phase-II?

When buying property in V.G.N. Southern County Phase-II, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 54,000.

Which office handles the registration for V.G.N. Southern County Phase-II?

The registration for V.G.N. Southern County Phase-II is handled by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.