Guideline Value for V.G.P. GREEN LAND

V.G.P. Green Land guideline value

The current guideline value of V.G.P. Green Land in Karumbur village is Rs 501 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Mixed Special Type - I.

How the guideline value of V.G.P. Green Land has changed

The guideline value for V.G.P. Green Land has undergone several revisions over the years. In 2007, the value was Rs 210 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, this figure saw a decrease in 2017, dropping to Rs 335 per sq.ft. The value then rose significantly to Rs 500 per sq.ft in 2023, before reaching the current rate of Rs 501 per sq.ft in 2024, reflecting no change from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 139%. The revisions for 2002 and 2003 have no figures recorded for this street in the register.

Guideline values in Karumbur

In Karumbur, there are 10 streets under the Chengleput Joint II SRO that have a guideline value for 2024, ranging from Rs 350 to Rs 600 per sq.ft. The median value is Rs 501 per sq.ft, which is equal to the guideline value of V.G.P. Green Land.

• Sri Rishab Nagar: Rs 600 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 500 per sq.ft (2024)
• Jayamaruthi Puram: Rs 501 per sq.ft (2024)
• Goldan Royal: Rs 501 per sq.ft (2024)
• Balakirshnan Nagar: Rs 350 per sq.ft (2024)
• Balaji Nagar Phase-II: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P. Green Land

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value amounts to Rs 5,01,000. The stamp duty at 7% would be Rs 35,070, and the registration fee at 2% would be Rs 10,020, totaling Rs 45,090. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.P. Green Land?

The V.G.P. Green Land property is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Karumbur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to assess the applicable charges. Buyers should be aware that the registration fee and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of V.G.P. Green Land?

The current guideline value of V.G.P. Green Land is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 501 per sq.ft in 2024, reflecting an overall increase of 139% over the years.

What are the other streets in Karumbur and their guideline values?

Other streets in Karumbur include Sri Rishab Nagar at Rs 600 per sq.ft, Sri Lakshmi Nagar at Rs 500 per sq.ft, and Jayamaruthi Puram at Rs 501 per sq.ft, among others.

How is the stamp duty calculated for V.G.P. Green Land?

The stamp duty for V.G.P. Green Land is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total cost will depend on the size of the plot and the applicable rates.

Which office handles the registration for V.G.P. Green Land?

The registration for V.G.P. Green Land is handled by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.