Guideline Value for V.G.P. Vinoth Town Part III

V.G.P. Vinoth Town Part III guideline value

The current guideline value for V.G.P. Vinoth Town Part III is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Vadakal village and falls under the Sriperumpudur SRO. The land classification for this street is Residential Class III Type - I.

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

The guideline value for V.G.P. Vinoth Town Part III has undergone several revisions over the years. The 2007 revision set the value at Rs 75 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, it dropped to Rs 134 per sq.ft in 2017 before rising again to Rs 200 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for this street in the 2002 and 2003 revisions.

From the 2017 to 2023 revision, the guideline value increased by 49%. The value remained unchanged from 2023 to 2024, showing a 0% change. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Vadakal

In Vadakal, there are 31 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for V.G.P. Vinoth Town Part III is below this median.

• V.G.P.Vinoth Town Part II: Rs 200 per sq.ft (2024)
• V.G.P.Vinoth Town: Rs 200 per sq.ft (2024)
• Velalar Street: Rs 300 per sq.ft (2024)
• Vasantham Nagar: Rs 750 per sq.ft (2024)
• Tristar City: Rs 150 per sq.ft (2024)
• Theruveedhiyamman Koil Street: Rs 150 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It's important to note that the 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 information on calculating fees.

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

The V.G.P. Vinoth Town Part III is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vadakal. It serves as the basis for calculating stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value helps to establish a transparent and standardized valuation, which is essential for both buyers and sellers. It ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value for V.G.P. Vinoth Town Part III?

The current guideline value for V.G.P. Vinoth Town Part III is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, then to Rs 134 per sq.ft in 2017, and back to Rs 200 per sq.ft in both 2023 and 2024.

What is the land classification for V.G.P. Vinoth Town Part III?

The land classification for V.G.P. Vinoth Town Part III is Residential Class III Type - I.

Where can I find the Sub Registrar Office for V.G.P. Vinoth Town Part III?

The Sub Registrar Office covering V.G.P. Vinoth Town Part III is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for property in V.G.P. Vinoth Town Part III?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 200 per sq.ft, the total fees would amount to Rs 18,000.