Guideline Value for V.G.N.ROYAL ENCLAVE

V.G.N.Royal Enclave guideline value

The current guideline value of V.G.N.Royal Enclave, located in Paleripattu village, is Rs 1,950 per sq.ft, effective from 1 July 2024. This area falls under the Avadi SRO and is classified as Commercial Special Type - II.

How the guideline value of V.G.N.Royal Enclave has changed

The guideline value for V.G.N.Royal Enclave has undergone several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, this value saw a decrease to Rs 1,206 per sq.ft in 2017, reflecting a drop of 33% from the previous revision. The value then increased to Rs 1,800 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 1,950 per sq.ft, an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 550%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 801 to Rs 4,200 per sq.ft, with a median value of Rs 990 per sq.ft. The guideline value for V.G.N.Royal Enclave is above this median.

• Vgn Aviv Enclave: Rs 2,420 per sq.ft (2024)
• Venkateswara Oil Mill St: Rs 990 per sq.ft (2024)
• Velayudham St: Rs 1,980 per sq.ft (2024)
• Varadharajan St: Rs 990 per sq.ft (2024)
• Zahir Hussain Street: Rs 803 per sq.ft (2024)
• Thiruvallur St: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total fees to Rs 1,75,500. 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 detailed calculations.

Which Sub Registrar Office covers V.G.N.Royal Enclave?

The V.G.N.Royal Enclave is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration process of property transactions in Paleripattu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both buyers and sellers are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

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

The current guideline value of V.G.N.Royal Enclave is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,950 per sq.ft in 2024, marking a total increase of 550% over the years.

What is the land classification of V.G.N.Royal Enclave?

V.G.N.Royal Enclave is classified as Commercial Special Type - II.

What are the registration fees for property in V.G.N.Royal Enclave?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles registrations for V.G.N.Royal Enclave?

The Avadi Sub Registrar Office handles registrations for V.G.N.Royal Enclave, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.