Guideline Value for V.G.P Vinoth Town

V.G.P Vinoth Town guideline value

The current guideline value of V.G.P Vinoth Town is Rs 181 per sq.ft, effective from 1 July 2024. This property is located in Mettupalayam village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of V.G.P Vinoth Town has changed

The guideline value for V.G.P Vinoth Town has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 180 per sq.ft. This figure dropped to Rs 121 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 50%, bringing it back to Rs 181 per sq.ft, where it remained in 2023. The current revision in 2024 maintains this value, showing no change from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by 1% from 2012 to 2024, reflecting the fluctuations in the property valuation over the years.

Guideline values in Mettupalayam

Mettupalayam village has a total of 45 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 181 to Rs 900 per sq.ft. The median guideline value for these streets is Rs 181 per sq.ft, which is equal to the current guideline value of V.G.P Vinoth Town.

• Victoria Town Part-II: Rs 200 per sq.ft (2024)
• VGP Mount View: Rs 181 per sq.ft (2024)
• Vijay Nagar: Rs 181 per sq.ft (2024)
• Venkateswara Nagar Stage - I To IV: Rs 181 per sq.ft (2024)
• Venkateshwara Nagar: Rs 181 per sq.ft (2024)
• Vasantham Gardens: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P Vinoth Town

For a 1,000 sq.ft plot at the current guideline value of Rs 181 per sq.ft, the total guideline value would be Rs 1,81,000. The stamp duty at 7% would amount to Rs 12,670, while the registration fee at 2% would be Rs 3,620. Together, the total cost for stamp duty and registration fee would be Rs 16,290. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P Vinoth Town?

The V.G.P Vinoth Town is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mettupalayam. It serves as a benchmark for determining the minimum value of a property during the registration, ensuring that the property is registered at a fair value as per the government's standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction. This ensures transparency and helps in preventing undervaluation of properties during sales.

Frequently asked questions

What is the current guideline value of V.G.P Vinoth Town?

The current guideline value of V.G.P Vinoth Town is Rs 181 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 181 per sq.ft from 2023 to 2024, increased by 50% from Rs 121 per sq.ft in 2017 to 2023, and decreased by 33% from Rs 180 per sq.ft in 2012 to Rs 121 per sq.ft in 2017.

Which Sub Registrar Office is responsible for V.G.P Vinoth Town?

The Sunguvarchattram Sub Registrar Office is responsible for V.G.P Vinoth Town, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

What are the stamp duty and registration fees for properties in V.G.P Vinoth Town?

The stamp duty for a property valued at Rs 1,81,000 would be Rs 12,670, and the registration fee would be Rs 3,620, totaling Rs 16,290. These fees are based on the guideline value or the sale price, whichever is higher.

Are there other streets in Mettupalayam with different guideline values?

Yes, there are other streets in Mettupalayam under the Sunguvarchattram SRO with varying guideline values, ranging from Rs 181 to Rs 900 per sq.ft, with the median being Rs 181 per sq.ft.