Guideline Value for V.G.V. Nagar

V.G.V. Nagar guideline value

The current guideline value of V.G.V. Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of V.G.V. Nagar has changed

Over the years, the guideline value of V.G.V. Nagar has seen several revisions. The 2007 revision set the value at Rs 628 per sq.ft, which increased to Rs 1,100 per sq.ft in 2012. However, the value dropped to Rs 738 per sq.ft in 2017, before rising significantly to Rs 1,102 per sq.ft in 2023. The latest revision in 2024 has further increased the value to Rs 1,210 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The value saw a decrease of 33% from 2012 to 2017. The increase from 2007 to 2012 was substantial at 75%. Overall, from 2007 to 2024, the guideline value has increased by 93%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO, with guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,375 per sq.ft, making V.G.V. Nagar's 2024 figure below that median.

• V.G.V. Nagar Extension: Rs 1,210 per sq.ft (2024)
• V.G.V. Nagar Extension II: Rs 1,210 per sq.ft (2024)
• V.G.N. Nagar: Rs 1,210 per sq.ft (2024)
• Vallalar Nagar: Rs 880 per sq.ft (2024)
• Unnamalai Amman Nagar: Rs 765 per sq.ft (2024)
• Sri Padmavathi Nagar: Rs 885 per sq.ft (2024)

Stamp duty and registration fee for property in V.G.V. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total fees to Rs 1,08,900. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.G.V. Nagar?

The Sub Registrar Office that covers V.G.V. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kannampalayam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is considered to ensure that the appropriate taxes are levied. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of V.G.V. Nagar?

The current guideline value of V.G.V. Nagar is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 628 per sq.ft in 2007 to Rs 1,210 per sq.ft in 2024, reflecting an overall increase of 93% over this period.

What is the land classification of V.G.V. Nagar?

V.G.V. Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.

What are the stamp duty and registration fees for properties in V.G.V. Nagar?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees amount to Rs 1,08,900.

Which office handles property registration for V.G.V. Nagar?

The Kunrathur Sub Registrar Office handles property registration for V.G.V. Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.