Guideline Value for V.M.GARDEN PHASE -II

V.M.Garden Phase -II guideline value

The current guideline value of V.M.Garden Phase -II is Rs 1,330 per sq.ft, effective from 1 July 2024. This property is located in Varadarajapuram village, under the Padappai SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of V.M.Garden Phase -II has changed

The guideline value for V.M.Garden Phase -II has undergone several revisions over the years. The 2017 revision recorded a value of Rs 1,206 per sq.ft, which remained unchanged in the 2023 revision. In 2024, the value increased to Rs 1,330 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

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 Phase -II is below this median.

• V.M. Garden: Rs 1,650 per sq.ft (2024)
• V.M. Garden - S.No.505: Rs 990 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 Phase -II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,330 per sq.ft, the total guideline value amounts to Rs 13,30,000. The stamp duty at 7% would be Rs 93,100, and the registration fee at 2% would be Rs 26,600, bringing the total to Rs 1,19,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers V.M.Garden Phase -II?

The V.M.Garden Phase -II is covered by 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 plays a crucial role during property registration in Varadarajapuram. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is assessed to ensure that the correct fees are applied, which helps in maintaining transparency in property transactions within the area.

Frequently asked questions

What is the current guideline value of V.M.Garden Phase -II?

The current guideline value of V.M.Garden Phase -II is Rs 1,330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,330 per sq.ft in 2024, reflecting a 10% increase overall. There was no change in the 2023 revision.

What is the land classification for V.M.Garden Phase -II?

V.M.Garden Phase -II falls under the Residential Class II Type - II land classification as per the guidelines.

Where can I find the registration office for V.M.Garden Phase -II?

The registration office for V.M.Garden Phase -II is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Varadarajapuram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,30,000, the stamp duty would be 7% of that amount.