Guideline Value for V.K.N.GARDEN

V.K.N.Garden guideline value

The current guideline value of V.K.N.Garden is Rs 700 per sq.ft, effective from 1 July 2024. This area is located in Maiyur village under the Chengleput Joint II SRO and is classified as Mixed Type - II land.

How the guideline value of V.K.N.Garden has changed

The guideline value of V.K.N.Garden has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which remained unchanged in the subsequent 2017 revision, where it was Rs 469 per sq.ft. The 2023 revision also maintained the value at Rs 700 per sq.ft. The most recent 2024 revision has kept the guideline value steady at Rs 700 per sq.ft, reflecting a 0% change from the previous year.

Looking further back, the 2017 revision marked a significant increase of 49% from the 2012 figure. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 700 per sq.ft. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 700 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing V.K.N.Garden's 2024 figure above that median.

• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Trinty Avenue: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 500 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in V.K.N.Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers V.K.N.Garden?

The Sub Registrar Office that covers V.K.N.Garden is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Maiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. This ensures that the property is valued appropriately according to the government’s standards.

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 process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of V.K.N.Garden?

The current guideline value of V.K.N.Garden is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 700 per sq.ft from 2012 to 2024. However, it was Rs 469 per sq.ft in 2017, reflecting a 49% increase from that year to 2023.

What is the land classification of V.K.N.Garden?

V.K.N.Garden is classified as Mixed Type - II land, which indicates the type of development and usage permitted in the area.

What are the stamp duty rates for property transactions in V.K.N.Garden?

The stamp duty rate for property transactions in V.K.N.Garden is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for V.K.N.Garden located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in V.K.N.Garden.