Guideline Value for VGK GREEN CITY PHASE-II

Vgk Green City Phase-II guideline value

The current guideline value of Vgk Green City Phase-II is Rs 1,770 per sq.ft. This property is located in Agaramthen village under the Tambaram Joint 1 SRO, classified as Residential Class III Type - I.

How the guideline value of Vgk Green City Phase-II has changed

The guideline value for Vgk Green City Phase-II has seen several revisions over the years. The oldest recorded revision is from 2017, with a guideline value of Rs 1,072 per sq.ft. This increased to Rs 1,608 per sq.ft in 2023, marking a significant rise of 50%. The current guideline value, effective from 1 July 2024, is Rs 1,770 per sq.ft, which reflects a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value is Rs 830 per sq.ft, placing Vgk Green City Phase-II above this median.

• Vgk Green City: Rs 1,770 per sq.ft (2024)
• Victory Farm Land: Rs 550 per sq.ft (2024)
• Veeramamunivar Street: Rs 830 per sq.ft (2024)
• V.O.C. Street: Rs 830 per sq.ft (2024)
• Valmiki Street: Rs 830 per sq.ft (2024)
• Vallalar Street: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Vgk Green City Phase-II

For a 1,000 sq.ft plot at the current guideline value of Rs 1,770 per sq.ft, the total guideline value amounts to Rs 17,70,000. The stamp duty at 7% would be Rs 1,23,900, and the registration fee at 2% would be Rs 35,400, bringing the total fees together to Rs 1,59,300. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Vgk Green City Phase-II?

The Sub Registrar Office that covers Vgk Green City Phase-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value is a crucial factor in property transactions in Agaramthen, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value serves as a benchmark for calculating stamp duty and registration fees.

Additionally, the guideline value helps ensure transparency in property transactions, providing a standardized value that both buyers and sellers can reference. This helps to mitigate disputes over property prices during registration.

Frequently asked questions

What is the current guideline value of Vgk Green City Phase-II?

The current guideline value of Vgk Green City Phase-II is Rs 1,770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,072 per sq.ft in 2017 to Rs 1,770 per sq.ft in 2024, reflecting a total increase of 65% over this period.

What are the other streets in Agaramthen with their guideline values?

Other streets in Agaramthen include Victory Farm Land at Rs 550 per sq.ft, Veeramamunivar Street, V.O.C. Street, Valmiki Street, and Vallalar Street, all at Rs 830 per sq.ft, and Vgk Green City at Rs 1,770 per sq.ft.

How is stamp duty calculated for properties in Vgk Green City Phase-II?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 17,70,000, the stamp duty would be Rs 1,23,900.

Where can I find the Sub Registrar Office for Vgk Green City Phase-II?

The Sub Registrar Office for Vgk Green City Phase-II is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.