Guideline Value for V.M. GARDEN - S.NO.505

V.M. Garden - S.No.505 guideline value

The current guideline value for V.M. Garden - S.No.505 is Rs 990 per sq.ft. This property is located in Varadarajapuram village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of V.M. Garden - S.No.505 has changed

The guideline value for V.M. Garden - S.No.505 has seen several revisions over the years. The 2017 revision set the value at Rs 603 per sq.ft. This was followed by a significant increase in the 2023 revision to Rs 900 per sq.ft, marking a 49% increase from the previous revision. The most recent revision in 2024 has brought the guideline value to Rs 990 per sq.ft, reflecting a 10% increase from 2023 and an overall increase of 64% from 2017.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for V.M. Garden - S.No.505 is below this median.

• V.M.Garden Phase -II: Rs 1,330 per sq.ft (2024)
• V.M. Garden: Rs 1,650 per sq.ft (2024)
• Vishwak Gold City: Rs 1,650 per sq.ft (2024)
• Walajabad Main Road: Rs 3,300 per sq.ft (2024)
• Wax Pattanam: Rs 1,100 per sq.ft (2024)
• Vimal Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in V.M. Garden - S.No.505

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value is Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost Rs 89,100. 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.M. Garden - S.No.505?

The V.M. Garden - S.No.505 falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a specified percentage. Buyers should be aware that the duty is assessed on the higher of the guideline value or the sale price, ensuring that the appropriate fees are collected based on the property's value.

Frequently asked questions

What is the current guideline value for V.M. Garden - S.No.505?

The current guideline value for V.M. Garden - S.No.505 is Rs 990 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased by 64%, from Rs 603 per sq.ft in 2017 to Rs 990 per sq.ft in 2024. The most recent increase was 10% from 2023 to 2024.

Which Sub Registrar Office is responsible for V.M. Garden - S.No.505?

The Padappai Sub Registrar Office is responsible for V.M. Garden - S.No.505, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the stamp duty rate for properties in V.M. Garden - S.No.505?

The stamp duty for properties in V.M. Garden - S.No.505 is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Are there any revisions without figures for V.M. Garden - S.No.505?

Yes, the register has no figures for the years 2002, 2003, 2007, and 2012 for V.M. Garden - S.No.505.