Guideline Value for V.G.P Santhosapuram Part I

V.G.P Santhosapuram Part I guideline value

The current guideline value of V.G.P Santhosapuram Part I is Rs 700 per sq.ft, effective from 1 July 2024. This property is located in Sriperumbudur A village, under the Sriperumpudur SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of V.G.P Santhosapuram Part I has changed

The guideline value for V.G.P Santhosapuram Part I has seen several revisions over the years. The 2017 revision set the value at Rs 469 per sq.ft, which remained unchanged in the 2023 revision at Rs 700 per sq.ft. The current 2024 revision also retains this figure at Rs 700 per sq.ft, indicating no percentage change from the previous year. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well, reflecting a significant change in the valuation over this period.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, which is equal to the current value of V.G.P Santhosapuram Part I.

• V.G.P Santhosh Nagar: Rs 700 per sq.ft (2024)
• V.G.P Ramanujar Town: Rs 700 per sq.ft (2024)
• V.G.P. Ramanjar Nagar I II III: Rs 700 per sq.ft (2024)
• VGP Chakra Town: Rs 700 per sq.ft (2024)
• Vignesh Nagar: Rs 700 per sq.ft (2024)
• Vijaya Sankara Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P Santhosapuram Part I

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P Santhosapuram Part I?

The Sub Registrar Office that covers V.G.P Santhosapuram Part I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sriperumbudur A. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of V.G.P Santhosapuram Part I?

The current guideline value of V.G.P Santhosapuram Part I is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft since the 2023 revision, which was the same as the 2024 revision. It increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023, reflecting a 49% increase over that period.

What is the land classification for V.G.P Santhosapuram Part I?

V.G.P Santhosapuram Part I falls under the Residential Class III Type - I land classification, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for V.G.P Santhosapuram Part I?

The Sub Registrar Office for V.G.P Santhosapuram Part I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 7,00,000, the total stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.