Guideline Value for VG Nagar Extension

VG Nagar Extension guideline value

The current guideline value for VG Nagar Extension in Venkadu village, under the Sriperumpudur SRO, is Rs 310 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of VG Nagar Extension has changed

Since the 2012 revision, where the guideline value was Rs 300 per sq.ft, the value has seen various changes. The 2017 revision recorded a decrease to Rs 201 per sq.ft, but this was followed by a significant increase to Rs 300 per sq.ft in the 2023 revision. The latest 2024 revision has further increased the guideline value to Rs 310 per sq.ft, marking a 3% rise from the previous year.

Looking at the changes over the years, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the value has seen a minimal increase of 3%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Venkadu

In Venkadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 300 per sq.ft. VG Nagar Extension's current guideline value of Rs 310 per sq.ft is above this median.

• V.G. Nagar: Rs 310 per sq.ft (2024)
• Thulukkanathamman Koil Street: Rs 300 per sq.ft (2024)
• Sree Bhuvaneswari Nagar: Rs 300 per sq.ft (2024)
• Siva Vishnu Garden: Rs 300 per sq.ft (2024)
• Shanthi Nagar: Rs 300 per sq.ft (2024)
• Royal Farms: Rs 310 per sq.ft (2024)

Stamp duty and registration fee for property in VG Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 310 per sq.ft, the total guideline value amounts to Rs 3,10,000. The stamp duty at 7% would be Rs 21,700, and the registration fee at 2% would be Rs 6,200, bringing the total fees to Rs 27,900. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers VG Nagar Extension?

The VG Nagar Extension area is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Venkadu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value serves as a benchmark for pricing. It helps in assessing the value of the property and ensures that both parties are aware of the financial implications associated with the transaction, particularly in terms of governmental fees.

Frequently asked questions

What is the current guideline value of VG Nagar Extension?

The current guideline value of VG Nagar Extension is Rs 310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023, and finally to Rs 310 per sq.ft in 2024.

What are the stamp duty and registration fees for VG Nagar Extension?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 21,700, and the registration fee would be Rs 6,200, totaling Rs 27,900.

Which Sub Registrar Office covers VG Nagar Extension?

The Sriperumpudur Sub Registrar Office covers VG Nagar Extension, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification for VG Nagar Extension?

The land classification for VG Nagar Extension is Residential Class I Type - I, indicating its designated use for residential purposes.