Guideline Value for V.G.P.THIRU NAGAR PART-III

V.G.P.Thiru Nagar Part-III guideline value

The current guideline value for V.G.P.Thiru Nagar Part-III is Rs 100 per sq.ft, effective from the 2024 revision. This area is located in Korakkathandalam village under the Oothukkottai SRO, classified as Residential Class I Type - I.

How the guideline value of V.G.P.Thiru Nagar Part-III has changed

In the 2012 revision, the guideline value was set at Rs 75 per sq.ft. This figure increased to Rs 50 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the guideline value rose significantly to Rs 100 per sq.ft, reflecting an increase of 100%. The most recent revision in 2024 maintained this value at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Korakkathandalam

In Korakkathandalam, five streets under the Oothukkottai SRO have a 2024 guideline value of Rs 100 per sq.ft, which is also the median value for the area. V.G.P.Thiru Nagar Part-III's 2024 figure is equal to this median.

• Thiruvelan Nagar: Rs 100 per sq.ft (2024)
• Poovanam Nagar: Rs 100 per sq.ft (2024)
• Kasi Thiruvelan Nagar: Rs 100 per sq.ft (2024)
• Blessings Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.P.Thiru Nagar Part-III

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total fees to Rs 9,000. It is important to note that 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 specific calculations.

Which Sub Registrar Office covers V.G.P.Thiru Nagar Part-III?

The V.G.P.Thiru Nagar Part-III area falls under the Oothukkottai Sub Registrar Office, located near the government hospital in Uthukottai, Chennai 602026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korakkathandalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of V.G.P.Thiru Nagar Part-III?

The current guideline value of V.G.P.Thiru Nagar Part-III is Rs 100 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 50 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023 and remained the same in 2024.

What are the guideline values of other streets in Korakkathandalam?

Other streets in Korakkathandalam also have a guideline value of Rs 100 per sq.ft for 2024. This includes Thiruvelan Nagar, Poovanam Nagar, Kasi Thiruvelan Nagar, and Blessings Nagar.

How is the stamp duty calculated for properties in V.G.P.Thiru Nagar Part-III?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000, resulting in a stamp duty of Rs 7,000.

Which office should I visit for registration in V.G.P.Thiru Nagar Part-III?

The Oothukkottai Sub Registrar Office covers V.G.P.Thiru Nagar Part-III. It is located near the government hospital in Uthukottai, Chennai 602026.