Guideline Value for V.G.P.Amudha Nagar 2nd Cross Street

V.G.P.Amudha Nagar 2nd Cross Street guideline value

The current guideline value for V.G.P.Amudha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Maduravoyal village, under the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of V.G.P.Amudha Nagar 2nd Cross Street has changed

The guideline value for V.G.P.Amudha Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded figure is from 2002, at Rs 194 per sq.ft. This increased to Rs 213 per sq.ft in 2003, marking a 10% rise. By 2007, the value surged to Rs 500 per sq.ft, reflecting a significant increase of 135%. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 33%. In 2017, the value was revised again to Rs 2,010 per sq.ft, which was a 49% increase from the previous figure. The 2023 revision set the value at Rs 3,000 per sq.ft, before the latest increase to Rs 3,300 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value for V.G.P.Amudha Nagar 2nd Cross Street has increased by 1,601%. There are no other years with figures recorded for this street in the register.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,050 per sq.ft. The median value for these streets is Rs 3,050 per sq.ft, and V.G.P.Amudha Nagar 2nd Cross Street's 2024 figure is above this median.

• V.G.P.Amudha Nagar 1st Main Road: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 2nd Main Road: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 1st Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 4th Cross Street: Rs 4,950 per sq.ft (2024)
• V.G.P.Amudha Nagar 5th Cross Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Amudha Nagar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers V.G.P.Amudha Nagar 2nd Cross Street?

The Sub Registrar Office that covers V.G.P.Amudha Nagar 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Maduravoyal. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers must be aware that the guideline value affects the calculation of stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the authorities will use the guideline value for calculating the applicable duties and fees, ensuring compliance with the regulations set by the state.

Frequently asked questions

What is the current guideline value for V.G.P.Amudha Nagar 2nd Cross Street?

The current guideline value for V.G.P.Amudha Nagar 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 194 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1,601%.

What is the land classification for V.G.P.Amudha Nagar 2nd Cross Street?

V.G.P.Amudha Nagar 2nd Cross Street is classified as Residential Class II Type - I.

Which Sub Registrar Office do I need to visit for transactions in V.G.P.Amudha Nagar 2nd Cross Street?

The Virugambakkam Sub Registrar Office covers V.G.P.Amudha Nagar 2nd Cross Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in V.G.P.Amudha Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.