Guideline Value for V.G.N.Aster

V.G.N.Aster guideline value

The current guideline value of V.G.N.Aster is Rs 7,100 per sq.ft, effective from 1 July 2024. This property is located in Nolambur village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

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

Over the years, the guideline value for V.G.N.Aster has seen significant changes. The 2017 revision recorded a value of Rs 4,355 per sq.ft, which increased to Rs 6,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has further raised the value to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in 1. Nolambur

In 1. Nolambur, there are 73 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with the median being Rs 7,100 per sq.ft. V.G.N.Aster's guideline value is equal to this median.

• V.G.N Avenue Phase IV: Rs 7,100 per sq.ft (2024)
• V.G.N Enclave: Rs 7,100 per sq.ft (2024)
• V.G.N Garden: Rs 7,100 per sq.ft (2024)
• V.G.N LA Parisienme: Rs 7,100 per sq.ft (2024)
• V.G.N Minaurva: Rs 7,100 per sq.ft (2024)
• V.G.N. Monte Carlo: Rs 7,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000, leading to a total of Rs 6,39,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers V.G.N.Aster is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value plays a crucial role in the registration process when buying or selling property in 1. Nolambur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized property value.

When a property is sold, the guideline value is used to determine the applicable fees, which are charged on the higher of the guideline value or the sale price. This ensures transparency and consistency in property transactions.

Frequently asked questions

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

The current guideline value of V.G.N.Aster is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,355 per sq.ft in 2017 to Rs 7,100 per sq.ft in 2024, marking a total increase of 63% over this period.

What is the land classification of V.G.N.Aster?

V.G.N.Aster is classified as Residential Special Type - I, indicating its designation for residential use within the area.

What are the stamp duty and registration fees for properties in V.G.N.Aster?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000, and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which office handles registrations for V.G.N.Aster?

The Villivakkam Sub Registrar Office handles registrations for V.G.N.Aster, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.