Guideline Value for V.S.K GARDEN

V.S.K Garden guideline value

The current guideline value of V.S.K Garden, located in Melpakkam village, is Rs 4,105 per sq.ft, effective from 1 July 2024. This area falls under the Kunrathur Sub Registrar Office (SRO) and is classified as Residential Special Type - III.

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

The guideline value for V.S.K Garden has seen significant changes over the years. The 2017 revision set the value at Rs 2,500 per sq.ft, which increased to Rs 3,732 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision established the current value at Rs 4,105 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melpakkam

In Melpakkam, there are 17 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,105 per sq.ft. The median guideline value in this area is Rs 1,540 per sq.ft, placing V.S.K Garden's 2024 figure above that median.

• Vgn Windsor Park Phase-VII: Rs 4,105 per sq.ft (2024)
• Vgn Windsor Park Phase - VI: Rs 2,460 per sq.ft (2024)
• Vgn Windsor Park Phase V: Rs 2,460 per sq.ft (2024)
• VGN WINDSOR PARK - Phase IV: Rs 2,460 per sq.ft (2024)
• Vgn Windsor Park Phase III: Rs 1,540 per sq.ft (2024)
• Vgn Windsor Park Phase II: Rs 1,210 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,105 per sq.ft, the total guideline value amounts to Rs 41,05,000. The stamp duty at 7% would be Rs 2,87,350, and the registration fee at 2% would be Rs 82,100, bringing the total cost for these fees to Rs 3,69,450. 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 our stamp duty and registration fee calculator.

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

The V.S.K Garden area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Melpakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for legal ownership transfer.

It is important for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property transactions. Accurate knowledge of these values ensures compliance with local regulations and helps in the smooth execution of property deals.

Frequently asked questions

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

The current guideline value of V.S.K Garden is Rs 4,105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,500 per sq.ft in 2017 to Rs 4,105 per sq.ft in 2024, reflecting a total increase of 64% over the seven years.

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

V.S.K Garden is classified as Residential Special Type - III, indicating its designation for residential purposes within the area.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 3,69,450 in fees.