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

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

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

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

The guideline value for V.G.P.Vinoth Town Part II has seen 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 the 2012 revision. However, the 2017 revision marked a significant increase to Rs 134 per sq.ft, and the values remained unchanged at Rs 200 per sq.ft for both the 2023 and 2024 revisions. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most notable increase occurred from 2007 to 2012, where the value rose by 167%. 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 carry a 2024 guideline value, ranging from Rs 150 to Rs 800 per sq.ft. The median value for these streets is Rs 300 per sq.ft, indicating that the guideline value for V.G.P.Vinoth Town Part II is below the median.

• V.G.P. Vinoth Town Part III: 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 II

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, calculated at 7%, would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000. Therefore, the total cost for stamp duty and registration fees would be Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The V.G.P.Vinoth Town Part II 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 more details.

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

The guideline value is a crucial factor when registering property transactions in Vadakal. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the guideline value to ensure compliance with the legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of V.G.P.Vinoth Town Part II 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 several times, with the most recent revisions in 2023 and 2024 maintaining the value at Rs 200 per sq.ft. The value increased from Rs 75 per sq.ft in 2007 to Rs 200 per sq.ft in 2012, and then to Rs 134 per sq.ft in 2017 before stabilizing.

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

The land classification for V.G.P.Vinoth Town Part II is Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Sriperumpudur Sub Registrar Office?

The Sriperumpudur Sub Registrar Office is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles the registration of property transactions in the area.

How is the stamp duty calculated for properties in V.G.P.Vinoth Town Part II?

Stamp duty for properties in V.G.P.Vinoth Town Part II is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at a rate of 7%.